How Reliable Is The Reported Foreclosure Data?
The following excerpt reflects, in part, the frustration of some:
- "This is highly misleading, the company's critics say. A Colorado housing official recently called RealtyTrac's numbers "ridiculous and irresponsible." The Mortgage Bankers Assn. chastised Congress for depending on the company's data. RealtyTrac's competitors are becoming increasingly vocal about what they see as its overstatements but are sometimes arguing among themselves as well."No one is measuring the truth," said Mark Zandi, chief economist for Moody's Economy.com. "This is a problem when formulating policy.""
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