Posts Tagged: Mortgage

How to Call Your Mortgage Company If You Are Caught up in the Partial Shutdown

I reached out to Eric Selk, Executive Director at Hope Now, a non-profit alliance among counselors, mortgage companies, investors, regulators, and other mortgage market participants, to gather some tips for federal employees affected by the partial shutdown who might miss a mortgage payment due to not receiving a paycheck.

New Regulations this Week!!!

Everyone is interested in the new financial industry regualation that will be proposed and debuted this week. I intend this posting to be a primer on some of the issues which are being discussed during the week. Some of the issues being discussed on the internet include: Regulatory Arbitrage – banks and financial institutions usingRead… Read more »

Even the ‘smartest guys in the room’ are easily fooled…

I enojoyed reading this blog posting – all of the complicated, involved CDS transactions and setups were intended to reduce, or even remove, risk from loss on the underlying asset. Well, the smart guys who thought them up got caught using them on a bet against subprime performing and were schooled by others. Unfortunately, itRead… Read more »

Mortgage Securitization – explained and how it factored in the financial crisis

http://www.hbs.edu/research/pdf/09-060.pdf Thanks to Ezra Klein’s blog on washingtonpost.com for the link – the paper is a great read (once you get past the economics) to understand exactly the mortgage back securites (MBS) market fell apart – essentially it was due to (1) bad assumptions of defalut rates, (2) poor ratings of each MBS pool byRead… Read more »

A Reality Check on Mortgage Modification

http://www.nytimes.com/2009/04/26/business/26gret.html Interestingly, servicers who originated loans that may have violated federal or state law could use the modification process to avoid liability if they securitized the mortgage but retained the servicing rights. The author writes that this may be an unintended consequence of the Helping Families Save Their Homes Act of 2009 (H.R. 1106, passedRead… Read more »