5 replies to this topic

[MaryAM]

Interesting article

https://www.msn.com/...JbEb?li=BBnb7Kz

[pdx5]

Recall the S&L fiasco from yesteryears?

Any time government backs anything, sharks will exploit, and tax payers will pay.

[Data]

The minimum credit score is 580 for the low down payment programs from Fannie Mae.  The problem is the crisis programs for mortgage modifications are still around to extend the loans if they default on payments.

[MaryAM]

I guess it doesn't matter what happens to these "agency insured" mortgages when the FED is still easing by doing this

 

https://www.newyorkf...lastTwenty.html

 

at what point and % of US land holdings that the FED (a private bank) owns will this be important.   I think its important now but what do I know.  Seems like a land grab to me especially when they can just print money to purchase the loans.  This has got to sink the dollar at some point - its just when?

[Data]

If problems are coming, you'll find the mortgage defaults rising, specifically the first payment defaults (FPD) and early payment defaults (EPD).   They were rising sharply in 2006.  The latter is defined as missing mortgage payments within the first 6 or 12 months, depending on who's doing the reporting. 

[MaryAM]

It will be interesting when the FED tells Goldman to buy 1 T of mortgage backed securities to get them off their books - a couple of articles are from 2017 and must have slipped through the cracks.

 

https://www.housingw...achs-subsidiary

 

https://www.housingw...achs-subsidiary

 

https://www.irishtim...-200m-1.3048092

 

https://www.mpamag.c...oans-63005.aspx

 

https://www.rte.ie/n...-goldman-sachs/