Wednesday 4th December
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SECURITIZATION: How our society changed when we learned to turn lead into gold.
Written on 30 Sep, 2013 at 13:07
Before securitization children were raised receiving fewer presents for their birthdays and holidays and I don't need a source for that statistic. Water is wet, the sky is blue, and that's a fact. Hotel rooms never cost $600... (Continue reading)
Everything You Need to Know About Mortgage Backed Securities with Impac President William Ashmore
Written on 27 Jun, 2013 at 18:28
It's Bill Ashmore, President of Impac Mortgage... answering questions about the ins and outs of mortgage backed securities and the meltdown that began in 2007. ... (Continue reading)
The Trillion Dollar Mistake That Triggered the Economic Meltdown
Written on 17 Oct, 2012 at 9:45
What could Mr. Bernanke and others have done differently? Addressed the real cause of the crisis, the lost trust part... by announcing that the U.S. government would be stepping into the bond market and guaranteeing the investment grade bonds...... (Continue reading)
The Foreclosure Crisis – We Won’t Be Able to Fix It, Until We Understand It
Written on 10 Oct, 2012 at 6:26
By understanding the truth of what happened and why at these two pivotal moments in time, everything else will fall into place, for it was these two moments that set the course for a global economic downturn that, if history... (Continue reading)
An Insider’s View of an Actual RMBS Securitization at Mandelman U.
Written on 2 Apr, 2012 at 8:15
What follows below are slides from an actual presentation of a Residential Mortgage-backed Securities - RMBS/REMIC deal... but NOT the slides from a "road show" presentation to potential investors... what you're about to see are slides from an INTERNAL meeting... (Continue reading)
Mandelman’s Overview of Economic News That Matters
Written on 3 Jun, 2011 at 6:03
So, there you have it... a veritable cornucopia of bad news... and all of it from CNBC, a cable news channel that normally broadcasts nothing but bull... markets. Bull markets... that's what I meant. But, it's getting impossible... (Continue reading)
Ice, Ice Baby – Iceland’s people give cold shoulder to paying for acts of reckless bankers.
Written on 21 Feb, 2011 at 8:21
Now, the British and Dutch governments want their money back, but Iceland's people are saying, well... no, not to put too fine a point on it. You might even say that the Icelanders are saying: "Hell no!" ... (Continue reading)
THE SiGNiNG… Or, Pardon me, Mr. Banker, but your REMIC is showing.
Written on 10 Oct, 2010 at 10:11
So, why didn't the bankers assign the loans to the trusts? I don't know... for sure. But I'm going to go out on a limb here and tell you it's because they wanted to borrow against them, and... (Continue reading)
Care to Guess How Many NEW Homes Sold Over $750,000 in June and July?
Written on 29 Aug, 2010 at 0:50
The biggest question I have about the real estate market is... why are we all pretending that there's a real estate market at all. There's no real estate market in this country, hasn't been one since July 10, 2007,... (Continue reading)
Ratings Agencies Panic: New Financial Reform Bill Means Expert Liability
Written on 21 Jul, 2010 at 19:16
Perhaps most notably, but least mentioned, the bill requires the credit rating agencies, Moody's, Fitch, and Standard & Poors, to not only be more transparent, but also potentially liable for issuing "bad ratings" on bonds. The role of the... (Continue reading)
HAMP’s New Enhancements are Stupid and I’m Getting Tired of Stupid
Written on 10 Apr, 2010 at 20:43
They did it again, damn it. The Harvard contingent that's packed in like sardines in this administration once again demonstrated that they have no idea what they're doing when it comes to the foreclosure crisis.... (Continue reading)
What We All Should Have Learned by Now About Loan Modifications
Written on 7 Apr, 2010 at 4:33
Okay class... if you've been keeping up with your reading assignments, then the following should be no problem for you to keep up with... but it also may cause motion sickness.... (Continue reading)
BRINGING UP THE REAR: MSNBC’s John W. Schoen
Written on 22 May, 2009 at 7:04
According to MSNBC.com, John Schoen “has reported and written about business and financial news for more than 25 years”. He produced a series titled The Mortgage Mess in 2008, and as a result won a Best in Business Journalism award... (Continue reading)