Comments on: A letter from a man who gets it that we should all understand

By: Are you willing to martyr yourself to the industry? | Real Central VA

Are you willing to martyr yourself to the industry? | Real Central VA — Mon, 29 Oct 2007 11:38:47 +0000

[...] warranted to revisit – This is but one of the reasons for the shift enumerated in this letter (h/t Blown Mortgage), including but not limited to this: The key reason the Subprime problem exists as it does today [...]

By: Baddriver

Baddriver — Wed, 22 Aug 2007 14:52:22 +0000

This (smart) guy sounds a lot like our friend Peter Schiff. Shorting US markets while predicting a foreign market decoupling. The only difference is Schiff also likes gold. Certainly two smart men to follow.

By: Stuart

Stuart — Wed, 22 Aug 2007 14:19:26 +0000

Thank you for sharing the letter with your readers. I found it a very interesting read.

As a new reader of your Blog I’m interested in how you feel the impending (and current)Mortgage debacle will impact buyers across the board.

We’ve seen the Fed take steps to help the Banks and lenders, will there be a trickle down effect to the interest rates for purchasers in the future?

The web and printed news is focusing on the Mortgage side of things (and rightly so) but I’ve seen little or nothing that gives current potential home buyers advice as to wait for a possible rate drop or jump in now before the loan money is “completely” gone. Or somewhere in between.

What advice would you give current home buyers who are looking to purchase now or in the near future?

Is this a time to wait and see where the market goes?

Or is it a time to move quickly before mortgages potentially get harder to qualify for and/or at possible higher rates?

I, and I think others would value your insight and opinion on this matter. Like I said, it seems to be a topic no one is addressing at the moment.

Regards,

Stuart

By: Schahrzad Berkland

Schahrzad Berkland — Wed, 22 Aug 2007 08:21:07 +0000

No wonder the LBO deals are drying up:
“These same investors and global pools of liquidity have been funding the Leveraged Buyout (LBO) boom by purchasing the debt that funds the Collateralized Loan Obligations (CLOs) which in turn, buy 60%+ of the LBO debt used to finance these transactions.”

Bass said they don’t want our toxic exports any more. And we dare to be mad at China for tainted toothpaste? What chutzpah!

By: Michelle

Michelle — Wed, 22 Aug 2007 08:16:46 +0000

Well this certainly defines the “Mortgage Meltdown”. The epidemic of “FRAUD” was not limited to the origination of these loans, but taken to extreme measures by defrauding International Investors. WAY TO GO USA!! I cannot even begin to comprehend the lasting affects this will impose over the next several years. It OUTRAGES me to know the Agencies involved, in this horrifying practice of deception, may never suffer the consquence. Unlike most of the unsuspecting mortgage companies that have been forced to dismantle years of hardwork, inform employees (often considered an extension of their own families)they no longer have jobs and walking away with a sense of failure.

I recently attended the CAMB Convention, held in Long Beach, CA. It was very surreal, GREATER THAN 10% of the Exhibitors had ceased operations. Their ads remained part of the elaborate program issued to each attendee, boasting enormous dollar volume in fundings for the previous year and their continued commitment to service.

How could they have EVER known? This part saddens me!!

Thank you Morgan for posting this vital information.