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Eric Falkenstein submits: The WSJ reports : The popular deals are known as “re-remic,” which stands for resecuritization of real-estate mortgage investment conduits. The way it works is that insurers and banks that hold battered securities on their books have Wall Street firms separate the good from the bad. The good mortgages are bundled together and create a security designed to get a higher rating. The weaker securities get low ratings. Complete Story »

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News Sources wrote an interesting post today on
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The WSJ has an interesting article today on the new financial product designed to repackage a bad loan into (sounds like tranches) into good and bad loans so they can have more favored capitalization. The popular deals are known as “re-remic,” which stands for resecuritization of real-estate mortgage investment conduits. The way it works is that insurers and banks that hold battered securities on their books have Wall Street firms separate the good from the bad. The good mortgages are

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by Moe Bedard on September 30, 2009 · 0 commentsin Mortgage Servicers The ratio of first mortgages 90-days late in Orange County rose for the seventh straight month in July, hitting 6.7% of all loans outstanding. That’s the highest percentage since at least January 2007, when it was a mere 0.7%, and is up slightly from 6.6% in June, reports First American CoreLogic.The percentage of mortgages here with some type of foreclosure filing rose to 2.4% in July from 2.3% in June and 1.6% in July’08Read

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News Sources wrote an interesting post today on
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Underwriting, Mortgage Lending, and House Prices: 1996-2008 Source: Fisher Center for Real Estate & Urban Economics Working Papers Lowering of underwriting standards may have contributed much to the unprecedented recent rise and subsequent fall of mortgage volumes and house prices. Conventional data don’t satisfactorily measure aggregate underwriting standards over the past decade: The easing and then tightening of underwriting, inside and especially outside of banks, was likely much

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Realizing how to avoid foreclosure is really important if you’ve ended up failing – or suppose you are coming to end up failing – your mortgage pay . If you end up missing even one mortgage payment , you will be in real danger of home foreclosure. Home foreclosure can make a bad financial situation even worse. Nevertheless , the truth is that lenders and banks truly do not want to foreclose on you. This simple fact will assist you if you want to stop foreclosu

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