The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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Watchung NJ, a New Jersey real estate developer and attorney each admitted today to conspiring to orchestrate a mortgage fraud scheme that led to over $3.5 million in losses, U.S. Attorney Philip R. Sellinger announced.
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Ridgewood NJ, the consumer inflation numbers came out showed the biggest advance in prices since 1991. Many economists think inflation is probably higher when you take into account the rise in home prices.
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Ridgewood NJ, according to Realtor.com the inventory of homes actively for sale in June decreased by 43.1% over the past year, a lower rate of decline compared to the 50.9% drop in May. A deceleration in the decline of inventory means the market is heading in an encouraging direction, but active inventory still remains at a historically low level. This decline meant there were 415,000 fewer homes actively for sale on a typical day in June compared to the previous year. Nationwide the total number of unsold homes that includes active listings and listings in various stages of the selling process that are not yet sold– is down 20.3% percent from June 2020.
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Ridgewood NJ, Rep. Scott Garrett may get his revenge despite the conservative’s recent election loss.It’s being reported that Rep. Scott Garrett has met with the Trump Transition Team and he may get a job at the Federal Housing Finance Agency or the Securities and Exchange Commission (SEC) .
Scott Garrett, a veteran House Republican who lost his re-election bid last month, met with Trump transition officials in New York Thursday morning, as a sign he is under consideration for a top position in the Trump administration.
While New Jersey voters turned their backs to Garrett and instead elected Democrat Josh Gottheimer, a former Microsoft Corp. executive who tied his fortunes to Hillary Clinton trading a veteran policy wonk for a substanceless out of power Clintonista with no political clout.
The new Trump Administration has prioritized many of Scott Garretts main issues including the repeal of Dodd-Frank, repeal of Obamacare and removing the too big to fail provisions from virtually all Federal agencies.
Garrett showed up at Trump Tower in Manhattan at about 10 a.m., according to the press. Garret declined to say whom he was meeting with but told reporters it was neither President-elect Donald Trump nor Mike Pence, with whom Mr. Garrett is said to be close too.
Garrett a longtime critic of federal housing policy is reported interested in a role at the Federal Housing Finance Agency, which oversees the government mortgage giants, Fannie Mae and Freddie Mac, according to people familiar with the matter.
The National Association of Realtors Congressional Fund spent $1.3 million supporting Gottheimer, including $146,000 for online ads, $529,000 for mailings and $590,000 for TV ads .Garrett crossed the Realtors group by pushing a bill in 2013 that would have scaled back the role of Fannie Mae and Freddie Mac, the government-backed companies that buy mortgages from lenders.
June 16,2016
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Ridgewood NJ, Rep. Scott Garrett (NJ-05), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, released the following statement after the Federal Housing Finance Authority (FHFA) issued an alert that Fannie Mae increased the projected budget for their new Washington, D.C. headquarters by over 50 percent. Fannie Mae is one of the government-sponsored enterprises that was put in conservatorship after taking a $200 billion taxpayer bailout in 2008.
“Like a child with a credit card in a toy store, the bureaucrats at Fannie Mae just couldn’t help themselves. After being forced to bail out the GSE’s to the tune of nearly $200 billion, American taxpayers now get the news that they are underwriting lavish spending at Fannie Mae’s new downtown Washington, D.C. headquarters. So while Americans around the country are living paycheck to paycheck, Washington insiders are blowing through budgets by designing glass enclosed bridges and rooftop decks.
“Even more troubling, the Federal Housing Finance Authority—the entity whose sole job it is to oversee the GSE’s—appears to have been asleep at the wheel as costs spiraled out of control. This is the same FHFA that just last year thought it was a good idea to give GSE executives a pay raise to nearly $4 million. This complete failure by FHFA and the excess displayed by Fannie Mae are the exact reasons why the American people are disgusted by business as usual in Washington, D.C.”
