Subprime Containment Theory Was a Lie

Conventional wisdom (or market spin) was that the risk of default from subprime would not spill over into Alt-A and Prime loans ... was the negative amortization loan. The loan balance can grow each month as the deferred interest is added ... they have not been widely exposed to these loan types. An adjustable rate mortgage resets to a different [more...]

Date: 2009-01-14 03:59:54

Blog posts (11) | Videos (6)
 

Refis

On the eve of the closing for my refinancing, I notice this from the W$J: ... ). Now I understand why: Only about a third of U.S. mortgage debt outstanding is likely to qualify ... Interest rates on fixed-rate mortgage loans for prime borrowers have fallen to below [more...]

Date: 2009-01-15 16:42:15

Rise in Overdue Mortgage Payments

In the first three months of this year more than a fifth of homebuyers in the UK, who have a chequered credit history, have fallen behind on their mortgage payments and even those with top-quality ratings have seen a statistically significant rise in delinquencies. New research from Standard & Poor’s is based on the behaviour of homebuyers, whose loans have been packed in to mortgage-backed-securities, accounting for 80 percent of the £43bn sub-prime mortgage market. [more...]

Date: 2009-09-25 03:11:53

Jumbo Prime ‘Walk Away’ Loans - More Downgrades Coming

Mr Mortgage is a 20-year mortgage banking veteran, specializing in wholesale and correspondent sales and sales/operations management and bringing financial institutions into new lending markets. His primary focus was upon Agency, Jumbo, Alt-A and FHA insured residential mortgages [more...]

Date: 2008-12-10 16:51:11

The reset that only partially barks?

By Fester: Alt a august 2008 Last August, I wrote that we should expect to see a tremendous number of Alt-A and prime mortgage problems similar ... mortgages. Two things would work to create payment shock in my implicit model.  The first is loans would stop being interest only and become fully amortized loans where there are principal payments [more...]

Date: 2009-01-14 19:20:04

Real Estate Shopping Online

realestate.com Buying a house is a very serious investment. However, during the sub-prime loan days, many have made the decision impulsively ... that can guide a buyer in choosing the best properties such as a mortgage calculator, which can calculate different types of loans with different type of payment plans and a home valuation calculator [more...]

Date: 2009-01-02 09:59:57

Reasons you wouldn’t want to be a Swiss Central banker

... or, to be blunt, a Swiss taxpayer: proud holders both of a $60bn UBS monopoly-bond smorgasbord, a portfolio comprising a hefty chunk of Alt-A mortgages. As well as, in no particular order, subprime, prime, CMBS, student-loan securities, and a score of ARS notes. According to the Swiss Central [more...]

Date: 2008-10-16 11:10:35

Incidental #1,341

see more Engrish WITH BANKERS ALL THE MORE TIGHTENING THEIR CREDIT-QUALITY STANDARDS AND TESTS IN RESPONSE TO THE CURRENT SOCIOECONOMIC SITUATION over recent months, Your Correspondent has to wonder if we may be about to see within measurable distance a resurgence of "guaranteed approval" loan and credit card offers targeting such with no established credit or even problem credit made all the more so by their bring tricked into "sub-prime" or "Alt-A" mortgages through deception or trick. [more...]

Date: 2009-09-23 19:30:00

The Idea That Banks Aren’t Lending Anymore Is Ridiculous

One of the worst parts of being a money manager is that in order to stay on top of financial news one should really have CNBC on in the office ... , JPM’s total consumer loans rose by 2% or $10 billion, to $483 billion, between September 30th ... , given that the sub-prime mortgage crisis [more...]

Date: 2009-01-15 21:03:04

Guide To Getting A Loan In A Credit Crunch

Guide To Getting A Loan In A Credit Crunch Posted on January 15, 2009 (0) ... since the sub-prime mortgage crisis sent shockwaves around the global economy, lenders have been keen ... effort as possible. That’s where an expert loans [more...]

Date: 2009-01-16 03:03:43

How the West was mortgaged

How the West was mortgaged If this were a whole book, I'd maybe possibly understand the sub-prime lending thing better ... tickled to be able to offer you and your husband the finest 5/1 negative-amortization loan this side [more...]

Date: 2009-01-12 14:56:28

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