News Sources wrote an interesting post today on
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It is nice to see the appraisal process move front and center after being on the back burner for the past 7 years during the credit bubble. The appraisal process in mortgage lending is like politics and making sausage – its not pretty when you look at it up close (except for my photo, of course). Vivian Toy pens a great article which talks about the disconnect between the ideals of the appraisal profession and what is being forced on the profession by the lending community and regu

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News Sources wrote an interesting post today on
Here’s a quick excerpt
Bank of America continues to plod through the aftermath of the credit bubble burst like an old, overburdened pack mule. With red ink still dripping on the bridle, a little love grove gouged by the twin loads of junk mortgage ore, previously carried by Countrywide Financial and Merrill Lynch, Bank of America was able yet to push out a $3.2 billion second quarter profit largely on the back of on time gains. One-time items included a gain of $5.3 billion from the sale of a stake in China C

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News Sources wrote an interesting post today on
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The Next Credit Bubble Is Now Are you ready for a replay?The Big MoneyBy Heidi N. MooreTuesday, August 25, 2009 Mortgage-backed securities—and the bankers who loved them—wreaked havoc last year, helping to pitch us into the deepest downturn since the Great Depression. Are you ready for a replay?Gird your loins. The signs are growing that there’s a new Wall Street gold rush under way—for those complex bundles of mortgage loans that fueled banks’ profits between 2005 and 2007. This year, prices fo

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News Sources wrote an interesting post today on
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“The worst is yet to come. Typically there’s a lag between when the economy softens and when the defaults actually occur.” -Steven Kandarian, MetLife Inc. Chief Investment Officer > Ahhhhh, its nice to see that sophisticated professionals make the same mistakes that Mom & Pop did during the credit bubble: Interest-Only Mortgages: “Investors in bonds that packaged $62 billion of debt for U.S. offices, hotels and shopping malls are bracing for more loan defaults through 2010 as

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