[coxapple]

Need to remember that most of these are voluntary.

Since the preponderance of sub-prime amongst NODs is so much higher than another cycle and they have little to lose on their credit record, one can start to see that this chart is artificial from a historic comparative behavioural point of view

……….. though in terms of numbers of REO and what the idiot raters should have foreseen it is as it is.

[coxapple]

Need to remember that most of these are voluntary.

Since the preponderance of sub-prime amongst NODs is so much higher than another cycle and they have little to lose on their credit record, one can start to see that this chart is artificial from a historic comparative behavioural point of view

……….. though in terms of numbers of REO and what the idiot raters should have foreseen it is as it is.

[coxapple]

Need to remember that most of these are voluntary.

Since the preponderance of sub-prime amongst NODs is so much higher than another cycle and they have little to lose on their credit record, one can start to see that this chart is artificial from a historic comparative behavioural point of view

……….. though in terms of numbers of REO and what the idiot raters should have foreseen it is as it is.

[coxapple]

Need to remember that most of these are voluntary.

Since the preponderance of sub-prime amongst NODs is so much higher than another cycle and they have little to lose on their credit record, one can start to see that this chart is artificial from a historic comparative behavioural point of view

……….. though in terms of numbers of REO and what the idiot raters should have foreseen it is as it is.

[coxapple]

Need to remember that most of these are voluntary.

Since the preponderance of sub-prime amongst NODs is so much higher than another cycle and they have little to lose on their credit record, one can start to see that this chart is artificial from a historic comparative behavioural point of view

……….. though in terms of numbers of REO and what the idiot raters should have foreseen it is as it is.

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[coxapple]

Guys,

I really would like to know why the solution is not partly renting en masses. If the banks and MBS service agents, or the government in their stead (after buying up the mortgages) rent out the foreclosed properties (first offer to the foreclosee and then anyone), the downward spiral could be halted before it seriously undershoots and hence prevent more damage to the financial economy/fiscal position (the latter two being the same thing these days!).

Banks and MBS agents don’t rent in practice so this is something the government can do. In most areas , the rent will cover the cost of carry for the mortgage assets (written down) that the tax payer has acquired because rental yield in the higher foreclosure areas are good (some extreme exurbs exempted perhaps as renters may be scarce).

Thanks

Graham

[coxapple]

‘8 years of Republican rule and all I got was this lousy Depression’

Stupid question. I mean really STUPID
It doesn’t matter what YOU got.

The lobbyists’ paymasters, the big swinging dicks on Wall St,the CEOs with their options bulged by massive loan funded buy backs, the passengers on the gravy train, including all the liar applicants, and generally anyone early on who threw responsibility to the wind and leveraged up to eye balls have all made fortunes. Party party party and leave others to clear up the mess. Smart , eh?

So that was the point of it. Winner (liar) takes all. Law of the jungle. Must be right cos Jesus has given it to me.

Sociopaths rule, OK

( If not , you know how to vote to try and change things)

[coxapple]

‘8 years of Republican rule and all I got was this lousy Depression’

Stupid question. I mean really STUPID
It doesn’t matter what YOU got.

The lobbyists’ paymasters, the big swinging dicks on Wall St,the CEOs with their options bulged by massive loan funded buy backs, the passengers on the gravy train, including all the liar applicants, and generally anyone early on who threw responsibility to the wind and leveraged up to eye balls have all made fortunes. Party party party and leave others to clear up the mess. Smart , eh?

So that was the point of it. Winner (liar) takes all. Law of the jungle. Must be right cos Jesus has given it to me.

Sociopaths rule, OK

( If not , you know how to vote to try and change things)

[coxapple]

‘8 years of Republican rule and all I got was this lousy Depression’

Stupid question. I mean really STUPID
It doesn’t matter what YOU got.

The lobbyists’ paymasters, the big swinging dicks on Wall St,the CEOs with their options bulged by massive loan funded buy backs, the passengers on the gravy train, including all the liar applicants, and generally anyone early on who threw responsibility to the wind and leveraged up to eye balls have all made fortunes. Party party party and leave others to clear up the mess. Smart , eh?

So that was the point of it. Winner (liar) takes all. Law of the jungle. Must be right cos Jesus has given it to me.

Sociopaths rule, OK

( If not , you know how to vote to try and change things)

[coxapple]

‘8 years of Republican rule and all I got was this lousy Depression’

Stupid question. I mean really STUPID
It doesn’t matter what YOU got.

The lobbyists’ paymasters, the big swinging dicks on Wall St,the CEOs with their options bulged by massive loan funded buy backs, the passengers on the gravy train, including all the liar applicants, and generally anyone early on who threw responsibility to the wind and leveraged up to eye balls have all made fortunes. Party party party and leave others to clear up the mess. Smart , eh?

So that was the point of it. Winner (liar) takes all. Law of the jungle. Must be right cos Jesus has given it to me.

Sociopaths rule, OK

( If not , you know how to vote to try and change things)

[coxapple]

‘8 years of Republican rule and all I got was this lousy Depression’

Stupid question. I mean really STUPID
It doesn’t matter what YOU got.

The lobbyists’ paymasters, the big swinging dicks on Wall St,the CEOs with their options bulged by massive loan funded buy backs, the passengers on the gravy train, including all the liar applicants, and generally anyone early on who threw responsibility to the wind and leveraged up to eye balls have all made fortunes. Party party party and leave others to clear up the mess. Smart , eh?

So that was the point of it. Winner (liar) takes all. Law of the jungle. Must be right cos Jesus has given it to me.

Sociopaths rule, OK

( If not , you know how to vote to try and change things)

[Author]

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