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FROM OUR DESK default servicing | in print and online for me rly Housing Heroes and Jokers Never have tights been so fashionable. As the summer draws to a close, so, too, does the hype for recently released superhero flicks like The Avengers, The Amazing Spiderman, and The Dark Knight Rises. Film critics like to dissect these multimilliondollar blockbusters with an eye for the-art-that-imitates-life. The overwhelming consensus suggests that comic-inspired icons like Batman and Spiderman satisfy a public need to see someone—a billionaire with a cape or some poor Brooklyn kid in tights—surmount insurmountable odds in a world of financial crises and cynical politics. A look inside our issue this month reveals players in the housing market—investors specifically—would like to see someone other than Uncle Sam save the day. But a slipshod recovery still teetering on the brink of recession inevitably invites action by government authorities, some of whose novel solutions would seemingly rob Peter to pay Paul. Take city council members in San Bernardino County, California, for example, who recently proposed seizing the mortgage notes of homes in distress under the authority of a state eminent domain law. The proposal certainly has Peter squaring up against Paul, or for our heavyweight bout, it's Robert Hockett (the man whose ideas on economic order gave rise to the eminent domain proposal) squaring up against Edward Pinto (the former Fannie Mae exec whose views on illadvised housing policies evidently extend to municipal governments as well). Flip to our Point— Counterpoint discourse on page 70 for both sides of the debate. That's just one of the controversial issues explored in our Investors Issue. In "Return of the Investor," Chuck Green chalks up investor restraint to the presence of a bigger player—some would say villain—in the form of a government-dominated secondary market. As one source tells Green on page 44, "[t]he best thing that could happen to our market is to shut down Fannie Mae and Freddie Mac. And you won't be answering to Dodd-Frank." Then again, some would say Fannie and Freddie deserve their own superheroes. Former Federal Housing Commissioner Brian Montgomery takes up the pen and shares his thoughts on the recent leadership shuffle at the mortgage GSEs on page 50. On new CEOs Donald Layton and Timothy Mayopolous, Montgomery assumes a wait-and-see posture. "It is too early to tell if the new leadership will bring about any significant change for the GSEs," he writes. These narratives spin a story of the average investor as someone at a crossroads, but not without glimmers of success. In "Opportunity Knocks," Keith Button tracks down numbers that would suggest success for investors in recent months despite hand-wringing over government policies. Button says unbeatable rental prices present investors with a road out of the uncertain housing market, even if it squeezes do-it-yourselfers out of contention. It seems like everyone is looking for a hero these days, investors and mortgage companies alike. Only time will tell if government policies signal the return of a hero or the mark of a joker. As always, if you have your own story to tell, drop us a line at Editor@DSNews.com. publisher vol. 10 no. 8 magazine Mark Hulme editorial director Carrie Bay dsnews.com editor Esther Cho staff writers contributing writers copy editors editorial advisory board design advertising Tory Barringer, Sara Ortega Keith Button, Tom Deutsch, Brad Froelich, Chuck Green, Robert Hockett, Mark Lieberman, Brian D. Montgomery, Edward Pinto Adam Crouch, Heather Hill, Alison Rich, Emily White Youree Gerald B. Alt, LOGS Network; Amy Brandt, Acqura Loan Services; Victor G. Draper, ProVest; Thomas W. Driver, Keystone Asset Management, Inc.; Vincent John Foley, First American Mortgage Services; David W. McCarthy, Integrated Asset Services; Dale McPherson, Field Asset Services; Todd Mobraten, US Real Estate Services, Inc.; Jason Nadeau, Stewart Lender Services; Chad Neel, LPS Field Services, Inc., and LPS Asset Management Solutions, Inc.; David A. Trott, Esq., Trott & Trott; Frank J. Veneziano, Weltman, Weinberg & Reis Co., LPA; Dave Webb, Hudson & Marshall art director: Jonathon Won creative director: Jason Stone cartoonist: Ryan Schuette national account sales Andi Zimmerman: 214.525.6700 Jason Myers: 214.525.6760 senior account executive Donna Lott: 214.525.6792 circulation ds news black book and legal league 100 social media corporate officers corporate office washington bureau account executives Thomas Griffin: 214.525.6754 Ryan McLemore: 214.525.6723 Chasity Clary Kelli Snowgren: 214.525.6786 Andi Miller chairman and chief creative officer: Mark Hulme chief operating officer: Rick Creel chief financial officer: John Harrison director of human resources: Ernest Gillespie 1909 Woodall Rodgers, Suite 300 Dallas, Texas 75201 Phone: 800.856.8060 1101 Pennsylvania Ave. NW, Suite 600 Washington, D.C. 20004 Phone: 202.393.5511 Follow DSNewsDaily on From the DS News Editorial Team No part of this publication may be reproduced without written permission from the publisher. ©2012 REO Publishing LLC All Rights Reserved This publication is intended to provide accurate, authoritative, and detailed information in regard to the subject matter covered. 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