1. The treasury might change the plan back to 10% and give us principal credit for interest paid in excess of that 10%. Remember Hensarling was mad they changed it.
2. I would still love to hear the explanation in court for how STOCKHOLDERS have an economic interest subordinate to the taxpayer interest. That taxpayer interest is perpetual income interest that never gets paid off. Hence , all taxpayers present and future must die for that economic remainder interest to be valid. I must be dumb to not understand the logic here.
3. The big problem with my plan is how much can New corp charge in fees for being the administrator of the government Guaranty corp. Can new corp issue it's own mortgages with the so-called "chinese wall" inside new corp between issuance and administration. A set-up like new corp would certainly need much less debt issuance than old fnf.
4. I want to propose one more crazy reform idea for housing. Establish upper and lower bounds for appraisal prices based on market rents in the area. Yes, I know that better areas should have higher price to rent ratios than lower quality areas. Still, why should commercial property values be based on rental values, but should residential property values have no relationship to rental value in an appraisal report?
4b . Right now, Wall street money is buying up large amounts of property in the inland empire(san bernadino , riverside california with all cash bids. They are buying to rent not flip at this time. The indivdual can't offer more (won't appraise) so the all cash bids always win. I think the individual should be able to get a loan on slightly higer bid than comp values provided that it's low enough price in relation to rent. Perhaps this would help the individual home buyer compete with the WaLL Street money. I think this would also keep a lid on some future housing bubble.
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