Posts Tagged ‘PRA’

CalHFA’s $2 Billion Home Rescue Program… Here’s How Stupid They Think We Are.

Written on 10 Feb, 2011 at 10:14

You see, it's a very well thought out no-lose proposition, this new California foreclosure rescue program... because if the banks refuse to participate in it, which would kill the whole principal reduction aspect of the plan, it's really not a... (Continue reading)

Howie Hubler’s Loan Value Group… Proof That Wall Street Has No Idea What’s Happening on Main Street

Written on 1 Nov, 2010 at 9:13

Want to know who Howie Hubler is? Did you read Michael Lewis' book, "The Big Short," because if you did, you might remember Lewis mentioning a bond trader at Morgan Stanley that lost the investment bank $9 BILLION... more... (Continue reading)

Tagged with: 60 minutes bank of america bond market Fed Chairman Ben Bernanke foreclosure crisis GAAP Accounting GMAC HAMP howie hubler illegal foreclosures John Mack jpmorgan chase lloyd blankfein loan modifications loan value group mark to market michael lewis morgan stanley mortgage refinancing NACA one west bank Plan offers hedge on strategic default PRA principal reductions rachel maddow responsible homeowner reward robo-signers steve kroft strategic default sub-prime loans TARP the big short Treasury Secretary Tim Geithner underwater mortgages wall street investors Wall Street Journal wells fargo bank WSJ