Clifford Rossi

Good and Bad News About Your House

Median home prices have surged past the U.S. record set in 2006 at the peak of the real estate bubble, but don’t expect a repeat of the Great Recession. Instead, Smith School professor Cliff Rossi expects an eventual market slowdown driven by a mixture of negative and positive factors. “Home prices at a national level are not anywhere near to cratering like they did back in 2007, 2008 and beyond,” Rossi says. He shares the following good and bad news that homebuyers and sellers should consider. Read more...

Bankers' Catch-22: Lending to People Lacking Credit Histories

Borrowers live or die by their FICO scores — numbers that offer a snapshot of how reliable they've been in paying back their debts. But some 53 million Americans don't have such scores because their credit history is thin or nonexistent. Now the Fair Isaac Corporation (aka FICO), is testing a new measure that would open up credit to many of these people. Smith professors Cliff Rossi and Siva Viswanathan offer insights. Read more...

Rossi to Congress: Make FHA a Better Risk Manager

Smith School Professor Cliff Rossi on Thursday outlined measures to a congressional subcommittee to make the Federal Housing Administration a better risk manager to rehabilitate its “extremely weak” Mutual Mortgage Insurance Fund. Rossi, who’s held senior risk management positions at Fannie Mae and Freddie Mac, testified about FHA oversight before the U.S. House Committee on Financial Services. He suggested five reforms. Read more...

How to Bring Our Zombie Housing-Finance System Back to Life

Since 2008 the United States has had a zombie mortgage-financing system, former bank executive Cliff Rossi writes today in a guest column for The Hill. “That year, in the wake of the collapse of the housing market, the government placed Fannie Mae and Freddie Mac, which underwrite the mortgages of many Americans, into conservatorship — a form of nationalization,” writes Rossi, Executive-in-Residence and Professor of the Practice at the University of Maryland’s Robert H. Smith School of Business.

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