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bsrsharma
ParticipantI am curious to see the lenders behind these suspicious “Super Janae’s” sales. My guess is some of the lenders who may know they are going out of business may cut some Super Sweetheart deals with their friends. What do they lose if they lend a friend a million on a property worth half (based on a “friendly” appraisal) and go out of business next week? This was very common with S&Ls towards the end. Millions were loaned out on entirely worthless assets knowing FSLIC/FDIC may come soon. Of course, a few of them went to jail.
August 22, 2007 at 11:02 AM in reply to: Hiring “loss mitigation” specialists … from Padilla’s blog #79103ParticipantWe’re hiring too, and we’re in the default industry
Brings back memory of the last "default industry" – I was a RTC contractor doing database work (interesting stuff – sorting assets into those that can be sold for 20 cents on a $, 40 c, 60 c etc., They called it asset stratification. I saw a LOT of good stuff in the 20c on a $ pile). They paid me market rate; Basically they had a blank check from Congress to get rid of the mess (failed S&Ls and their greatly devalued assets).
August 22, 2007 at 11:02 AM in reply to: Hiring “loss mitigation” specialists … from Padilla’s blog #79230ParticipantWe’re hiring too, and we’re in the default industry
Brings back memory of the last "default industry" – I was a RTC contractor doing database work (interesting stuff – sorting assets into those that can be sold for 20 cents on a $, 40 c, 60 c etc., They called it asset stratification. I saw a LOT of good stuff in the 20c on a $ pile). They paid me market rate; Basically they had a blank check from Congress to get rid of the mess (failed S&Ls and their greatly devalued assets).
August 22, 2007 at 11:02 AM in reply to: Hiring “loss mitigation” specialists … from Padilla’s blog #79251ParticipantWe’re hiring too, and we’re in the default industry
Brings back memory of the last "default industry" – I was a RTC contractor doing database work (interesting stuff – sorting assets into those that can be sold for 20 cents on a $, 40 c, 60 c etc., They called it asset stratification. I saw a LOT of good stuff in the 20c on a $ pile). They paid me market rate; Basically they had a blank check from Congress to get rid of the mess (failed S&Ls and their greatly devalued assets).
ParticipantWhy are we putting the spotlight and raising our ire
Even though someone else created the problem, this problem is bound to take serious political overtones when millions of families are driven out of their homes during an election year. Sen Dodd is not a bit player; nor are the leading contenders for the highest office. For populism, they might try something thoughtless and endanger the whole financial system. Our nations creditors have lost/ are going to lose hundreds of billions of $. Anything that makes us look even less trustworthy stops the inflow of capital. If you think we have problems now, read what happened to Russia, Brazil, Argentina when creditors lost faith. These boys (and a girl) are playing with matches. The voters should tell them not to start fires.
ParticipantWhy are we putting the spotlight and raising our ire
Even though someone else created the problem, this problem is bound to take serious political overtones when millions of families are driven out of their homes during an election year. Sen Dodd is not a bit player; nor are the leading contenders for the highest office. For populism, they might try something thoughtless and endanger the whole financial system. Our nations creditors have lost/ are going to lose hundreds of billions of $. Anything that makes us look even less trustworthy stops the inflow of capital. If you think we have problems now, read what happened to Russia, Brazil, Argentina when creditors lost faith. These boys (and a girl) are playing with matches. The voters should tell them not to start fires.
ParticipantWhy are we putting the spotlight and raising our ire
Even though someone else created the problem, this problem is bound to take serious political overtones when millions of families are driven out of their homes during an election year. Sen Dodd is not a bit player; nor are the leading contenders for the highest office. For populism, they might try something thoughtless and endanger the whole financial system. Our nations creditors have lost/ are going to lose hundreds of billions of $. Anything that makes us look even less trustworthy stops the inflow of capital. If you think we have problems now, read what happened to Russia, Brazil, Argentina when creditors lost faith. These boys (and a girl) are playing with matches. The voters should tell them not to start fires.
ParticipantSen. is right in asking for the limits for Fannie and Freddie to be raised
Even the GSEs have to recycle money by securitizing mortgages. If too many Dodds & Edwards's have their way, market will lose faith in GSE securities too and all hell will break loose. There is a reason why the US Government wants to limit GSEs overall portfolio.
ParticipantSen. is right in asking for the limits for Fannie and Freddie to be raised
Even the GSEs have to recycle money by securitizing mortgages. If too many Dodds & Edwards's have their way, market will lose faith in GSE securities too and all hell will break loose. There is a reason why the US Government wants to limit GSEs overall portfolio.
ParticipantSen. is right in asking for the limits for Fannie and Freddie to be raised
Even the GSEs have to recycle money by securitizing mortgages. If too many Dodds & Edwards's have their way, market will lose faith in GSE securities too and all hell will break loose. There is a reason why the US Government wants to limit GSEs overall portfolio.
Participantwho wants to bail out everyone
By sending blank checks? Is it too much to expect a Presidential candidate of a major party to speak with a little more clarity.
Participantwho wants to bail out everyone
By sending blank checks? Is it too much to expect a Presidential candidate of a major party to speak with a little more clarity.
Participantwho wants to bail out everyone
By sending blank checks? Is it too much to expect a Presidential candidate of a major party to speak with a little more clarity.
Participanthe is telling lenders to work with these people to keep them in their homes by offering them better mortgage deals
Does he realize that all those mortgages have been reformulated as CDO/CMOs and as it is they are illiquid now? Adding more variables in the form of lower yields, stretching out the loan term etc., will make them all completely worthless. That is many Trillions of $ gone. Mortgages will become simply unavailable. That will kill the housing market. He should use his head before opening his mouth.
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