Must Read – Short sale fraud + follow-up (Olick, CNBC) Great sleuthing from Diana Olick. Sounds like outright fraud being committed by big banks. One follow up question: In many cases, the second-lien holder is also the first lien holder. How is that impacting short-sales?
The Moody’s/REAL commercial real estate index for June was released today. Down just 1% compared to May, it suggests the pace of decline is moderating. The index was squarely in freefall the prior two months, declining 9% from March to April and 8% from April to May.