Refunding the RTC: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Second Congress, First Session ... October 24, 1991, Volume 4 |
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affordable housing approval asset disposition asset manager auction structure Bank borrower Bradenton bulk sales cash Centex Chairman commercial properties commercial real estate concentration CONGRESS THE LIBRARY conservatorship contract Dallas decline default Denver discount disposition strategy Dutch auction economic effect English auction expected FDIC Federal FIRREA foreclosure funding HFAs Housing and Real Impact of RTC information gathering costs investors issues Kerry lender loan lots low income maximize million mortgage October 24 Oklahoma City Oversight Board participation percent plat potential buyers Potomac Crossing private sector problems purchase real estate assets real estate market recovery reduce regional reserve price residential properties Resolution Trust Corporation response result Riddiough risk RTC Dispositions RTC inventory RTC properties RTC's SAMDA sealed bid auction sell seller financing seller revenues Senator sewer single-family sold submarkets thrift Town of Leesburg uncertainty value estimates Vandell and Timothy Wall Street Journal winner's curse
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Page 144 - cartel" which is already in the formative stage is a step in the right direction, but it does not go far enough, nor is it broad enough in scope.
Page 114 - I hope this information has been helpful to you. If you have any further questions please let me know.
Page 41 - NCSHA is a national, nonprofit organization created in 1970 to assist its members in advancing the interests of low and moderate income people through the financing, development, and preservation of affordable housing. NCSHA is the only representative of state or local government exclusively devoted to the full range of affordable housing issues. NCSHA's members are...
Page 7 - Mr. Chairman, I would first like to thank you for calling this hearing today.
Page 95 - The great diversity in our requirements and our unwillingness to recognize equivalents are two of our marked educational characteristics. So great is the diversity that a good teacher today is unnecessarily hampered in his ability to move about, not only from state to state, but also from county to county, and often from county to city and from one city to another.
Page 41 - McEVOY EXECUTIVE DIRECTOR NATIONAL COUNCIL OF STATE HOUSING AGENCIES WASHINGTON, DC Mr.
Page 198 - ... partial resolution of uncertainty can either increase or reduce a risk-averse bidder's average willingness to pay. Since only an increase is possible when bidders have constant absolute risk aversion or when the resolution of uncertainty is complete, the cases of reduced average willingness to pay can only arise when the range of possible wealth outcomes from the auction is large (so that the bidders' coefficients of absolute risk aversion may vary substantially over this range) and when the...
Page 153 - State agencies would use their best efforts to market properties to qualified purchasers who had the lowest percentage practicable of the area median Income In any given market area. State agencies would rebate all sales proceeds (after the deduction of reasonable costs of sale. Including standard real estate commissions, standard RTC asset management fees, a 5 percent of gross sales price agency fee. and any other costs agreed to by KTC) to the RTC. HFA Cl*
Page 62 - Mr. Chairman. I appreciate the opportunity to be with you this morning and to address these issues.
Page 142 - In addition, nonprofits advising potential purchasers have suggested that many lower income buyers may be single adults and young couples whose incomes appear artificially low when compared to the national household median because they are at the start of their earnings curve.