Comments on: Wachovia Follows WaMu, Bank of America Down, Down, Down http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Burdick http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-69936 Burdick Sat, 20 Jun 2009 12:29:46 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-69936 I never heard about <a href="http://www.wachoviabankviews.com/" rel="nofollow">www.wachoviabank.com</a> like this before. Thank for this. I never heard about http://www.wachoviabank.com like this before. Thank for this.

]]> By: Burdick http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-69935 Burdick Sat, 20 Jun 2009 12:28:48 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-69935 I never heard about <a href="http://www.wachoviabankviews.com/" rel="nofollow">www.wachoviabank.com</a> like this before. Thank for this. I never heard about http://www.wachoviabank.com like this before. Thank for this.

]]> By: C Turner http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-10747 C Turner Thu, 10 Apr 2008 19:02:54 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-10747 Hi Morgan, I used to work with you and Daine and New Day Trust. I worked for World for nearly ten years just as the merger with Wachovia was going to take place. It will be interesting to see what happens however Wachovia has no idea how to handle the option arms. The Sandlers were really the only two who did. It was very very sad to see them go and it was inevitable what was going to happen when they eventyally left as so many depended on the knowledge. Even Greenspan and the Feds depended on them. I can bet if you go and ask fifty of the top Wachovia people hardly any of them will be able to tell you what has really happened to the pick a pay loans to make the payments adjust. It is not just the subprime loans it is many of the pick a pay loans that were given to people with ficos in the 700's and people who wanted to live in houses they could not afford? The World pick a pay was very unique to every other pick a pay but we will see who knows the difference. I am counting? Hi Morgan,
I used to work with you and Daine and New Day Trust.
I worked for World for nearly ten years just as the merger with Wachovia was going to take place.
It will be interesting to see what happens however Wachovia has no idea how to handle the option arms. The Sandlers were really the only two who did.
It was very very sad to see them go and it was inevitable what was going to happen when they eventyally left as so many depended on the knowledge.
Even Greenspan and the Feds depended on them.
I can bet if you go and ask fifty of the top Wachovia people hardly any of them will be able to tell you what has really happened to the pick a pay loans to make the payments adjust. It is not just the subprime loans it is many of the pick a pay loans that were given to people with ficos in the 700’s and people who wanted to live in houses they could not afford?
The World pick a pay was very unique to every other pick a pay but we will see who knows the difference.
I am counting?

]]> By: Gina G http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-6268 Gina G Thu, 01 Nov 2007 01:59:15 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-6268 not that big of a deal losing 1.3 billion when you have 753 billion to spare not that big of a deal losing 1.3 billion when you have 753 billion to spare

]]> By: S Hallman http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-5814 S Hallman Mon, 22 Oct 2007 11:38:56 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-5814 Morgan, I know you are out in California, but since you are talking about a South Eastern bank in Wachovia - Can you tell us what you hear about Suntrust cleaning up its balance sheet to possibly be bought. Like Ann pointed out, looks like the set up for lots of mergers next year and beyond! Morgan, I know you are out in California, but since you are talking about a South Eastern bank in Wachovia – Can you tell us what you hear about Suntrust cleaning up its balance sheet to possibly be bought. Like Ann pointed out, looks like the set up for lots of mergers next year and beyond!

]]> By: Scottsdale real estate http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-5770 Scottsdale real estate Sat, 20 Oct 2007 22:22:26 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-5770 I think this could spell real trouble for Wachovia. It seems like there will be a tough road ahead for a lot of these lenders who engaged in risky lending practices. I think this could spell real trouble for Wachovia. It seems like there will be a tough road ahead for a lot of these lenders who engaged in risky lending practices.

]]> By: The Feed Bag - Tree Saving Mode http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-5769 The Feed Bag - Tree Saving Mode Sat, 20 Oct 2007 21:49:56 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-5769 [...] Morgan Brown tracks yet more sub-prime stuff. Wachovia Follows WaMu, Bank of America Down, Down, Down [...] [...] Morgan Brown tracks yet more sub-prime stuff. Wachovia Follows WaMu, Bank of America Down, Down, Down [...]

]]> By: MattJ http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-5761 MattJ Sat, 20 Oct 2007 17:25:09 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-5761 Morgan- Do you see Wachovia's troubles as a problem for stockholders or for depositors? In other words, will they be losing money or failing over this? Morgan-

Do you see Wachovia’s troubles as a problem for stockholders or for depositors? In other words, will they be losing money or failing over this?

]]> By: Morgan Brown http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-5760 Morgan Brown Sat, 20 Oct 2007 17:13:34 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-5760 Tom - it's an all too common story, which is the scary part. It will be interesting to see how World's portfolio impacts Wachovia moving forward. Ann - you are right we'll see major consolidation in the banking industry as a result of this mess. I know in Orange County, CA they have made a special request to the state for emergency employment funding for retraining, etc. of all the displaced workers... Tom – it’s an all too common story, which is the scary part. It will be interesting to see how World’s portfolio impacts Wachovia moving forward.

Ann – you are right we’ll see major consolidation in the banking industry as a result of this mess. I know in Orange County, CA they have made a special request to the state for emergency employment funding for retraining, etc. of all the displaced workers…

]]> By: Ann http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/comment-page-1/#comment-5749 Ann Sat, 20 Oct 2007 12:19:35 +0000 http://blownmortgage.com/2007/10/19/wachovia-follows-wamu-bank-of-america-down-down-down/#comment-5749 Again..only the beginning of a long road down financial hits for many of these lenders/banks. I think that 2008 will bring back the days of mergers as many companies become vunerable to take overs. 2008 is going to be the year that this country will have to admit the "R" word. As all industries continue to layoff workforce, consolidate and take financial troubles. I still believe that the unemployment numbers are not reflecting the true state of the economy as other sectors report each week and the reports are not encouraging. Again..only the beginning of a long road down financial hits for many of these lenders/banks. I think that 2008 will bring back the days of mergers as many companies become vunerable to take overs. 2008 is going to be the year that this country will have to admit the “R” word. As all industries continue to layoff workforce, consolidate and take financial troubles. I still believe that the unemployment numbers are not reflecting the true state of the economy as other sectors report each week and the reports are not encouraging.

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