Thursday, January 6, 2011

Mortgage Borrowers Take Some Responsibility. Banks Still Blamed

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Jan 6, 2011 9:58AM

Mortgage Borrowers Take Some Responsibility. Banks Still Blamed

While I cannot argue with big bank haters who point toward underlying "greed" as the prime motivation for sloppy lending decisions, I must ask, were the bankers the only ones being greedy? Was there no speculative investing in the housing market? Did consumers stop and ask, "hey man, how am I gonna cover that payment?". Where were the Realtors when home prices were rising at an unsustainable pace? Where were the appraisers? Why didn't underwriters put up a fight against Janitors who said they made $90,000 a year? Where were the regulators????

Jan 6, 2011 5:48PM

NFP Preview: Room to Run But Teetering on MBS Coupon Shift

A Reuters poll showed they now foresee the U.S. added 175,000 jobs last month, up from 140,000 before the ADP number was released. Last month's figure was a gain of 39,000. However, analysts caution that heightened expectations also increase the scope for disappointment if the outcome falls short.


Micro News

5:48 PM:

NFP Preview: Room to Run But Teetering on MBS Coupon Shift

4:36 PM:

New Mortgage Rate Watch Post

4:19 PM:

5pm Shaping Up To Bookend A Day Of Great Technical Support

4:17 PM:

MBS RECAP: 1/6/2011

4:17 PM:

New MBS Commentary Post

4:17 PM:

New MBS Commentary Post

4:17 PM:

MBS RECAP: 1/6/2011

3:18 PM:

Most Recent Area Of Support Continues To Hold, Though Further Reprices Elude

Around the Web

Video News

Geithner Urges Lawmakers to Increase Federal Debt Limit

Housing Market's Hot Segment

Behravesh Says Fed to Use Jobless Rate to Justify QE2


Today's Comments

Rick Baron

"I agree with the call for teaching financial literacy, and on a larger scale, CAPITALISM. We need, as a nation, to teach everyone how to first become financially..."

Frank Ceizyk

"Dennis--the problem with your theory is, you would record a sale for 192964, making all of the properties within a square mile radius of the house worth 192964..."

Dennis Curcio

"Bulldozing is about as dumb as dog doo. How about selling the homes for 192947 to an owner occupant that normally could not qualify for a mortgage. Such as..."

Today's Q&A

Anonymous

"When a foreclosure sale takes place how long does the homeowner..."

Anonymous

"Do all mortgage companies require an appraisal before loan is..."

Anonymous

"If a home buyer's closing date arrives and the buyer's..."

Today's Forum Discussions

AG

"Hello, glad I found this forum, My wife and I have been working with a mortgage broker for months. We found a house and our Wells Fargo broker asked us..."

Joseph Chavez

"Loan Scenario View All Post A Scenario Loan State: California Loan County: --- Loan Type: Refinance (Rate and Term) Loan Amount: $320,000 Property Value..."

Christian

"Hello and thank you for your feedback. We are in the process of "selling" our home via assumption of our FHA mortgage. Although I have done a..."