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SD TransplantParticipant
This past Friday, a small local company, that provides custom data center HW & SW in SD shut down. I have 2 friends that worked there and confirmed it.
P.S. I also interviewed with the company about a year ago but did not get too crazy about “we are not making $ now but we offer salary + a bunch of stock options” ……glad I did not fall for it.
SD TransplantParticipantThis past Friday, a small local company, that provides custom data center HW & SW in SD shut down. I have 2 friends that worked there and confirmed it.
P.S. I also interviewed with the company about a year ago but did not get too crazy about “we are not making $ now but we offer salary + a bunch of stock options” ……glad I did not fall for it.
SD TransplantParticipantThis past Friday, a small local company, that provides custom data center HW & SW in SD shut down. I have 2 friends that worked there and confirmed it.
P.S. I also interviewed with the company about a year ago but did not get too crazy about “we are not making $ now but we offer salary + a bunch of stock options” ……glad I did not fall for it.
SD TransplantParticipantThanks Rich. Great article.
I was looking for something to support my own anecdotal evidence vis-a-vis ARM resets modifications & help under HAMP. From the anecdotal data HAMP is a complete failure.
Last weekend, I was at the BBQ party where 2 friends work for one of the bigger banks (one a VP and other a negotiator). The negotiator, who worked also a RE broker in the boom days, assured my wife that the market will only get uglier next year, or later, whenever the banks will decide what to do w/ the assets of all these unqualified ARM victims (I mean investors).
According to her, in a typical day she processes about 10 cases (specifically assign to the HAMP program to qualify ARM reset victims). A good day equals having max 2 out of 10 cases qualify based on income for HAMP. So, my anecdotal data shows a failure rate of 80% under the HAMP. Based on the other blog articles read lately, CHASE and B of A have an even higher failure amount for ARM recasts victims to qualify under HAMP.
The negotiator’s question was……………….what would banks do with assets when Govt. help programs in place stop? I know the answer is……………….EXTEND THEM (but at some point things will have to be passed back to the private sector)…..the key is WHEN
SD TransplantParticipantThanks Rich. Great article.
I was looking for something to support my own anecdotal evidence vis-a-vis ARM resets modifications & help under HAMP. From the anecdotal data HAMP is a complete failure.
Last weekend, I was at the BBQ party where 2 friends work for one of the bigger banks (one a VP and other a negotiator). The negotiator, who worked also a RE broker in the boom days, assured my wife that the market will only get uglier next year, or later, whenever the banks will decide what to do w/ the assets of all these unqualified ARM victims (I mean investors).
According to her, in a typical day she processes about 10 cases (specifically assign to the HAMP program to qualify ARM reset victims). A good day equals having max 2 out of 10 cases qualify based on income for HAMP. So, my anecdotal data shows a failure rate of 80% under the HAMP. Based on the other blog articles read lately, CHASE and B of A have an even higher failure amount for ARM recasts victims to qualify under HAMP.
The negotiator’s question was……………….what would banks do with assets when Govt. help programs in place stop? I know the answer is……………….EXTEND THEM (but at some point things will have to be passed back to the private sector)…..the key is WHEN
SD TransplantParticipantThanks Rich. Great article.
I was looking for something to support my own anecdotal evidence vis-a-vis ARM resets modifications & help under HAMP. From the anecdotal data HAMP is a complete failure.
Last weekend, I was at the BBQ party where 2 friends work for one of the bigger banks (one a VP and other a negotiator). The negotiator, who worked also a RE broker in the boom days, assured my wife that the market will only get uglier next year, or later, whenever the banks will decide what to do w/ the assets of all these unqualified ARM victims (I mean investors).
According to her, in a typical day she processes about 10 cases (specifically assign to the HAMP program to qualify ARM reset victims). A good day equals having max 2 out of 10 cases qualify based on income for HAMP. So, my anecdotal data shows a failure rate of 80% under the HAMP. Based on the other blog articles read lately, CHASE and B of A have an even higher failure amount for ARM recasts victims to qualify under HAMP.
The negotiator’s question was……………….what would banks do with assets when Govt. help programs in place stop? I know the answer is……………….EXTEND THEM (but at some point things will have to be passed back to the private sector)…..the key is WHEN
SD TransplantParticipantThanks Rich. Great article.
I was looking for something to support my own anecdotal evidence vis-a-vis ARM resets modifications & help under HAMP. From the anecdotal data HAMP is a complete failure.
Last weekend, I was at the BBQ party where 2 friends work for one of the bigger banks (one a VP and other a negotiator). The negotiator, who worked also a RE broker in the boom days, assured my wife that the market will only get uglier next year, or later, whenever the banks will decide what to do w/ the assets of all these unqualified ARM victims (I mean investors).
According to her, in a typical day she processes about 10 cases (specifically assign to the HAMP program to qualify ARM reset victims). A good day equals having max 2 out of 10 cases qualify based on income for HAMP. So, my anecdotal data shows a failure rate of 80% under the HAMP. Based on the other blog articles read lately, CHASE and B of A have an even higher failure amount for ARM recasts victims to qualify under HAMP.
The negotiator’s question was……………….what would banks do with assets when Govt. help programs in place stop? I know the answer is……………….EXTEND THEM (but at some point things will have to be passed back to the private sector)…..the key is WHEN
SD TransplantParticipantThanks Rich. Great article.
I was looking for something to support my own anecdotal evidence vis-a-vis ARM resets modifications & help under HAMP. From the anecdotal data HAMP is a complete failure.
Last weekend, I was at the BBQ party where 2 friends work for one of the bigger banks (one a VP and other a negotiator). The negotiator, who worked also a RE broker in the boom days, assured my wife that the market will only get uglier next year, or later, whenever the banks will decide what to do w/ the assets of all these unqualified ARM victims (I mean investors).
According to her, in a typical day she processes about 10 cases (specifically assign to the HAMP program to qualify ARM reset victims). A good day equals having max 2 out of 10 cases qualify based on income for HAMP. So, my anecdotal data shows a failure rate of 80% under the HAMP. Based on the other blog articles read lately, CHASE and B of A have an even higher failure amount for ARM recasts victims to qualify under HAMP.
The negotiator’s question was……………….what would banks do with assets when Govt. help programs in place stop? I know the answer is……………….EXTEND THEM (but at some point things will have to be passed back to the private sector)…..the key is WHEN
SD TransplantParticipantI have to agree with FLU. He has the right pulse of this market especially in RB :).
SD TransplantParticipantI have to agree with FLU. He has the right pulse of this market especially in RB :).
SD TransplantParticipantI have to agree with FLU. He has the right pulse of this market especially in RB :).
SD TransplantParticipantI have to agree with FLU. He has the right pulse of this market especially in RB :).
SD TransplantParticipantI have to agree with FLU. He has the right pulse of this market especially in RB :).
SD TransplantParticipantthanks for keeping us up to speed on this fiasco.
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