Are Mortgage Backed Securities worse than we all thought?

NEW -> Contingent Buyer Assistance Program
Actually, I'm sorta sorry I said that. I personally have never had what I would call a bad experience with a realtor. I have had a number of average experiences, and some slightly above average experiences, but not really any bad ones.
 
<p>Lending M--</p>

<p>What kind of loans are these? Are you asking for 20% down? Are there beginning to be appraisal problems for hones appraisers due to too few comps?</p>

<p>Where is your lender getting the money?</p>

<p>If you have reasonably high interest rates, why isn't there somebody out there willing to buy even a single jumbo?</p>

<p>Everybody else--</p>

<p>Tanta has extensive quotes from Judge Royko's opinion on the abortvie foreclosures. She is clearly in love with him. The one thing that I don't understand is Royko's insistence that the Plaintiff be the owner on the date of the foreclosure? I think if I were the Plaintiff, I could allege something to the effect that gee, we really did own them, and we just made a boo-boo and didn't get the asgn'ts signed on time and please can we amend? But the quoted asgnments didn't even really say that DB owned them as of the date of the hearing. If you read the wording, it is so weaselly that I don't understand it at all.</p>

<p>Generally, if you can't prove your case at law you are allowed an "equitable" argument. In other words, it's not fair that these borrowers are just sitting there in the house, and I'm not getting any money.</p>

<p>But I don't see how you get over the ownership hurdle. Otherwide I could foreclose on, say, Lending M's house.</p>

<p>If a Californian has a defense like this, and wants to pursue it, what would they do? File suit to set aside the notice?</p>

<p>And non-sleepers---</p>

<p>Not sleeping is a really serious medical condition. If the herbals don't help you, go to a dr. You can shorten your life. Even worse, you can shorten your life due to causing an accident because you had a minisleep unknowingly, while driving and shorten somebody else's life too.</p>

<p>You could have sleep apnea, where you wake up hundreds of times a nite and are exhausted in the morning. There's a machine that helps with that. I have a minor version of that, but what my problem really was, was something else, I frankly don't know what. you snorers--and your bedmates know who you are--might contemplate a sleep study.</p>

<p>You could also be depressed, which is a misleading word, and one is not necessarily sad while being depressed. One could be hostile or absurdly angry. Not sleeping, or conversely, sleeping too much is a symptom. I have always felt that not sleeping is a perfectly good reason for being depressed, and the cause and effect might be mixed up, but good ole' Prozac or Zoloft might do the trick, if that's the problem.</p>

<p>You don't need a reason to feel depressed; everyting could be going simply swimmingly; but stress can make it worse. </p>

<p>I personally hate drs way worse than any realtor, but sometimes you have to stop telling yourself you can get over this and go to the damn dr.</p>

<p> </p>
 
<p>Getting back to the original topic - here is an older article link, but an interesting variety of people debating the current credit crisis</p>

<p>http://money.cnn.com/galleries/2007/fortune/0708/gallery.crisiscounsel.fortune/index.html</p>
 
lawyerliz,



I work in the addiction field. For what it is worth, there is a difference between being "addicted" to a drug and being "dependent" on it. An addict will try to find ways to get high or chill out by stockpiling drugs, going off it for a while, then taking larger quantities to get some kind of euphoria. A person who is just "dependent" on a medication needs to have it regularly, does not need to increase it regularly, and does not really experience a euphoria--however if they don't have the drug they can have withdrawal symptoms and other consequences. For example, if you are a diabetic and need insulin, then you can say that you are dependent on it and that without it, bad things would happen. If you are on blood pressure medications and then suddenly stop it, for some of the medications, there can be a rebound and your blood pressure would be even higher than it would be compared to if you never took the pills. Lastly, if you take temazepam regularly for sleep, and then if you were to suddenly go without it, there is a good chance you wouldn't be able to sleep that night at all. This doesn't make you an addict necessarily, rather you could just be "dependent" on it, which is a big difference.
 
<p>Oh, yeah, I agree totally. I am not euphoric or anything like that; I really don't have an addictive personality.</p>

<p>Thanks a lot for your concern and for writing.</p>

<p>I am concerned for the Sleepless In Irvine. Not getting sleep is a big deal. I was just trying to say that for me, I HAD to start sleeping. And I am and was willing to anything reasonable to get it. </p>

<p>Others may feel differently.</p>

<p>Back to Mtg backed securities.</p>
 
I watched/heard the Bernanke comments live when he mentioned modifying the Fannie and Freddie conforming limits. When he said them I thought he was joking. It was an off handed comment (the sort that Greenstien would never had made) and rather flipant. Frankly, Ben didn't look or sound like he was feeling well throughout his whole testimony.



I'm sure he felt better when he got back to the office and everyone gave him the business about his suit. Erin Burnett, aka Mrs. CNBC Chief Hotness Correspondent, noticed that he had worn the same suit and tie EVERY TIME he's been in front of congress to testify.



I gotta love a central banker who is so cheap he only owns one suit. In all seriousness, I love this guy.
 
lendingmaestro - on behalf of my beloved grandma, and all my relatives who were exterminated by nazis... EXCUSE ME?!!! Did I misunderstand you? Please, do clarify.
 
<p>Barry Greenstein - Alan Greenspan = bah, same difference. Two Jewish guys with a much better command of functional math and psycology than I have.</p>

<p>Okay, I was either distracted or stone drunk when I posted that. My bad.</p>
 
Ben really has worn the same suit every time in front of congress.



And I think he was sincerely making a flip comment about raising the caps to "I dunno, a million". Fannie and Freddie certainly aren't enthusiastic about it.
 
lm - that's the problem with forum dialogue - sometimes it's hard to differentiate between lighthearted ribbing and true ugliness (pick your -ism). That said, now that I have more of the context...





I shoulda known you were of similar cultural heritage as myself, given your professional association with lending money...





Ha, back atchya in spades
 
<p>Nice current summary of the mortgage backed securities problems and solutions here:</p>

<p><a href="http://www.federalreserve.gov/newsevents/testimony/parkinson20080214a.htm">http://www.federalreserve.gov/newsevents/testimony/parkinson20080214a.htm</a></p>
 
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