Posted in Housing Issues on Jul 25th, 2008
I am fascinated with the Fannie Mae & Freddie Mac bailout. As a Treasurer for a Habitat for Humanity affiliate I have an above average interest in the market for poor quality real estate loans. We were the original sub-prime lender. This bailout will allow Fannie Mae & Freddie Mac to corner the market at [...]
Posted in Housing Issues on Jun 10th, 2008
For those following the foolishness surrounding the mortgage meltdown crisis, this comic hits home.
Comic for June 10, 2008 service@dilbert.com (VPI.Net) Tue, 10 Jun 2008 07:00:00 GMT
Posted in Housing Issues on Mar 29th, 2008
This article explains the financial rationale for how securitized mortgages were supposed to work and how the failure of a few assumptions turned a nice profit into huge losses.
“The Subprime Crisis Is Just Starting” by Daniel R. Amerman, FSU Editorial 03/20/2008
Posted in Housing Issues on Mar 28th, 2008
Lenders loaned too much money on too easy terms to borrowers who did not have the capacity to make their payments. No alchemy by even the brightest minds on Wall Street could turn bad loans into good assets.
I have to agree with what Ethan Penner says above in the Wall Street Journal opinion piece, Of [...]
Posted in Favorite Quotes, Housing Issues on Mar 19th, 2008
“A bank is a place that will lend you money if you can prove that you don’t need it.”
Bob Hoperss@quotationspage.com (Quotes of the Day) Wed, 19 Mar 2008 00:00:00 GMT
Posted in Housing Issues on Mar 6th, 2008
The Federal Reserve Chairman tells bankers to create more losses by writing down mortgage loans.
I just saw this story, Bernanke’s ‘Principal’, in which he recommends re-negotiating existing mortgages at a much lower amount and forgiving the debtor for the difference. This is an incredible request since all of the pain will be born by [...]
Posted in Housing Issues on Mar 4th, 2008
A little profane humor from Google Docs about how subprime works. You are forewarned!
Posted in Housing Issues on Feb 29th, 2008
Previously I had speculated in a post, Trying to get a grip on the impact of subprime mortgages on low income families, on what I thought was going to be the impact of subprime mortgage crisis. Yesterday I decided to see what the folks at RealtyTrac said for a low income area I am interested [...]
Posted in Housing Issues on Feb 14th, 2008
Today I added the ForeclosurePulse Blog to my blogroll so I can keep up on the foreclosure issue. It looks like they are the source of the foreclosure data used by the press.
Posted in Housing Issues on Feb 14th, 2008
Forbes has awarded EconomicIndicators.gov one of its “Best of the Web” awards for compiling data across govt agencies and making it publicly accessible. But as of March 1, the Bush admin has announced that it is shutting down this site due to “budgetary constraints.”
Bush Admin Shuts Down Website Tracking U.S. Economic Data
Thu, 14 Feb 2008 [...]
On this day, the Virginia Tech community reflects on the vibrant lives of the 32 students and faculty who were tragically taken from us a year ago. Through light, art, and music we pay tribute to each and every person we lost. We gather to honor our friends, colleagues, and family members. We will never forget.