- This topic has 130 replies, 17 voices, and was last updated 15 years, 8 months ago by
greekfire.
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August 11, 2008 at 12:14 PM #256021August 11, 2008 at 12:22 PM #255736
Anonymous
GuestBasically it points out that the Prime sector, due to its size and expected stability, is the key driver.
It will be interesting to see just how “prime” those loans are. I heard somebody talk about how some prime loans didn’t have properly documented income. Mortgage brokers would first run the loan through the computer and sometimes the computer would allow a prime loan to be made, without income verification. Then they could make a no-doc loan, and have it be prime as well. I guess we’ll find out if this is a rumor and if it did happen, how often.
August 11, 2008 at 12:22 PM #255914GuestBasically it points out that the Prime sector, due to its size and expected stability, is the key driver.
It will be interesting to see just how “prime” those loans are. I heard somebody talk about how some prime loans didn’t have properly documented income. Mortgage brokers would first run the loan through the computer and sometimes the computer would allow a prime loan to be made, without income verification. Then they could make a no-doc loan, and have it be prime as well. I guess we’ll find out if this is a rumor and if it did happen, how often.
August 11, 2008 at 12:22 PM #255918GuestBasically it points out that the Prime sector, due to its size and expected stability, is the key driver.
It will be interesting to see just how “prime” those loans are. I heard somebody talk about how some prime loans didn’t have properly documented income. Mortgage brokers would first run the loan through the computer and sometimes the computer would allow a prime loan to be made, without income verification. Then they could make a no-doc loan, and have it be prime as well. I guess we’ll find out if this is a rumor and if it did happen, how often.
August 11, 2008 at 12:22 PM #255977GuestBasically it points out that the Prime sector, due to its size and expected stability, is the key driver.
It will be interesting to see just how “prime” those loans are. I heard somebody talk about how some prime loans didn’t have properly documented income. Mortgage brokers would first run the loan through the computer and sometimes the computer would allow a prime loan to be made, without income verification. Then they could make a no-doc loan, and have it be prime as well. I guess we’ll find out if this is a rumor and if it did happen, how often.
August 11, 2008 at 12:22 PM #256026GuestBasically it points out that the Prime sector, due to its size and expected stability, is the key driver.
It will be interesting to see just how “prime” those loans are. I heard somebody talk about how some prime loans didn’t have properly documented income. Mortgage brokers would first run the loan through the computer and sometimes the computer would allow a prime loan to be made, without income verification. Then they could make a no-doc loan, and have it be prime as well. I guess we’ll find out if this is a rumor and if it did happen, how often.
August 11, 2008 at 2:19 PM #255781peterb
ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
August 11, 2008 at 2:19 PM #255959ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
August 11, 2008 at 2:19 PM #255963ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
August 11, 2008 at 2:19 PM #256023ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
August 11, 2008 at 2:19 PM #256071ParticipantInterest only.
Neg Am.
FICO score with undocumented income.
Upside down on your loan walk aways.
Unemployment.If the index is lower, great, but it does not mitigate these issues very well.
Alt-A and prime could be the next leg down.
August 12, 2008 at 12:55 AM #255956CA renter
ParticipantPrime, Alt-A, sub-prime are all in the same boat. Too many people paid too much for their shacks. The foreclosure “crisis” isn’t the result of loan types as much as it’s a result of people taking on too much debt so they could pay more than a house was worth (and the non-existent lending standards allowed this).
August 12, 2008 at 12:55 AM #256134ParticipantPrime, Alt-A, sub-prime are all in the same boat. Too many people paid too much for their shacks. The foreclosure “crisis” isn’t the result of loan types as much as it’s a result of people taking on too much debt so they could pay more than a house was worth (and the non-existent lending standards allowed this).
August 12, 2008 at 12:55 AM #256138ParticipantPrime, Alt-A, sub-prime are all in the same boat. Too many people paid too much for their shacks. The foreclosure “crisis” isn’t the result of loan types as much as it’s a result of people taking on too much debt so they could pay more than a house was worth (and the non-existent lending standards allowed this).
August 12, 2008 at 12:55 AM #256198ParticipantPrime, Alt-A, sub-prime are all in the same boat. Too many people paid too much for their shacks. The foreclosure “crisis” isn’t the result of loan types as much as it’s a result of people taking on too much debt so they could pay more than a house was worth (and the non-existent lending standards allowed this).
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