mohit | Shared With: Everyone - Apr 01 2008 | mortgages, finance, subprime, news, economics, toread
Quoted: I think this is basically a good idea. If the government is going to bail out the people trading with Bear Stearns in an effort to calm the markets, then they might as well go right to the source of the poison and clean up the mortgage mess. But it has to be done right. And I think that insuring the mortgages instead of buying them, as was done in the depression, is an idea with some merit.
- mohit | Shared With: Everyone - Jul 22 2008 | jpmorgan, risk, loans, mortgages, investment club, finance
Quoted: The Oregonian reported Friday morning that it obtained a copy of an internal JPMorgan Chase (“JPMC”) memo titled “Zippy Cheats & Tricks” that provides step-by-step instructions on how to enter false data into a loan approval system called ‘Zippy.’ (Hat tip to Calculated Risk.) In essence, an in-house guide to committing mortgage fraud. Here are pertinent excerpts of the Oregonian report:
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- akabagel - Apr 02 2008
You must be Mohit's friend before you can comment on this Fave.Thanks for dotting this. I'm always looking for more stuff about the Frank-Dodd bill.
As I've learned about some of the controls (sunset clause, 2nd morgages are ineligable) I'm not as against it as I first was. For our current situation, it may be a good thing, however I can't support the bill in principle until someone can point out to me how it benefits our entire population, and not just the small % of homeowners who are in trouble (especially when there are private charities who are already helping these sorts of people out - hope now, for example)
Send Mohit a friend request or a personal message instead.