Wednesday 4th December
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Discussing Foreclosure Crisis Solutions with Impac Mortgage CEO Joe Tomkinson
Written on 10 Jun, 2013 at 4:39
I think Impac has proven that it has the capability and desire to be a meaningful part of the solution to the foreclosure crisis... they successfully modified tens of thousands of loans, and in general, they got loans modified in... (Continue reading)
One Bank Did Right by Homeowners & Shareholders – A Story You Haven’t Heard Before
Written on 17 May, 2013 at 17:40
There is one mortgage banker that did it right for their shareholders and borrowers. They didn't take TARP funds or any sort of tax-payer funded bailout... instead they took their losses, restructured the company, and protected their shareholders... ... (Continue reading)
HO, HO, HOmeless… A Sobering View of the Crisis Affecting Us All
Written on 24 Dec, 2011 at 5:00
And to the homeowners who feel ashamed... who have suffered the indignity of losing a home in silence... this wasn't your fault. You didn't break the bond market and send housing prices into a free fall. You didn't... (Continue reading)
Mandelman U. Presents – Securitization & Mortgage Backed Securities
Written on 12 Mar, 2011 at 5:38
Come back to 6th Grade where I'll be teaching real 6th graders all about what the banks did to break the world. We're going to cover the Bond Market and Securitization, CDOs and CDSs... and even Synthetics and... (Continue reading)
Voting on Principal Reductions: Treasury: YES… FHFA: NO… Obama Administration: YES… Congressional Republicans: NO. Good Lord.
Written on 20 Dec, 2010 at 1:30
Obama has been pressuring FHFA to let Fannie Mae grant principal reduction... the President of the United States is pressuring them... Ohhh, is it like Guantanamo... or more like Canyon Ranch... pressure me some more, Barack... I like it when... (Continue reading)
Where Are Our Religious Leaders?
Written on 17 Nov, 2010 at 1:53
Pardon me, but we've got someone in this country in charge of something called a "FOOD INSECURITY REPORT?" And Dick Fuld got $500,000,000 for bankrupting Lehman Bros. Holy Mother of God. And that brings me to the... (Continue reading)
Greenspan Says Housing is Nowhere Near Bottom
Written on 26 Jul, 2010 at 22:13
It's amazing how different it is when you're the Chairman of the Federal Reserve, as opposed to being the retired Chairman of the Federal Reserve. ... (Continue reading)
Judge Sentences Wall Street’s Greed and Hedge Fund Founder to Prison
Written on 23 May, 2010 at 16:23
"He had a choice as a leader of the financial industry. He could have led by example. Instead, he chose to follow. He became a joiner, surrendering to the spree of the financial market's virtual mob mentality that nearly brought... (Continue reading)
Banks Lobbying, Financial Reforms & Who’s Recovering?
Written on 16 May, 2010 at 18:07
Like the flying monkeys from the Wizard of Oz, they've been summoned by the bankers to our nation's capital; flying in from around the country until they hit the steps of the U.S. Capital building... when they're transformed into lobbyists... (Continue reading)
WaMu and We Don’t Lose Deals to Income!
Written on 14 Apr, 2010 at 5:55
Those are the words that were printed on a large banner that hung above the cubicles at Ameriquest Mortgage in Sacramento, California, according to an ex-employee of the now defunct sub-prime mortgage banking lender that was shut down by Citigroup... (Continue reading)
Books I’ve Loved Reading… The Great Depression Diary
Written on 31 Jan, 2010 at 15:09
The Great Depression Diary By Benjamin Roth Benjamin Roth was born in the last years of the nineteenth century, passed the Bar Exam during the Roaring Twenties and was a practicing attorney in 1929 when over a few days in... (Continue reading)
Bringing Up the Rear: President Barack Obama
Written on 23 Jan, 2010 at 2:52
Guys... we have problems, big problems... problems that President Obama hasn't even commented on publicly since last February! Not even a comment, Mr. President? What are you thinking? And please don't say "health care reform,' because I... (Continue reading)
Look What Alan Zibel of Associated Press Finally Figured Out
Written on 18 Jan, 2010 at 12:41
Alan, what are you babbling about... a recovery in the housing market last summer? Are you a crack smoker, Alan? I'm so sick of this kind of propaganda being espoused by know-nothing journalists that it's making me physically... (Continue reading)
So, It Wasn’t the Subprimers After All… Go Figure.
Written on 20 Jul, 2009 at 8:06
"The evidence from a huge national database containing millions of individual loans strongly suggests that the single most important factor is whether the homeowner has negative equity in a house -- that is, the balance of the mortgage is greater... (Continue reading)
What Happened On Wall Street and Why
Written on 18 Jul, 2009 at 15:27
But until homeowners are able to refinance their adjustable and recasting mortgages into affordable loans, and foreclosures abate as a result, we'll see no recovery. As they say, this too will pass... but not tomorrow, not next year, and not... (Continue reading)
Songs of the Mortgage Meltdown
Written on 26 Jun, 2009 at 9:26
Song of the Mortgage Meltdown... CD Coming in April... I'm always looking for new ideas though... so what do you think...... (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)