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September 6, 2009

For Lawyers: Sophisticated Study on "Liar's Loans

5 Comments / bubble, CDO, Corruption, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud / By

Makes for very good reading. Shows that the advent of low-doc and non-doc loans were, as epected, sure to result in higher delinquencies. As we have pointed out before here, that was the point — to get loans that were sure to go into default. That was the only way they collect the “insurance” (credit …

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Developer Tries to Silence Film Exposing Complicity in Mortgage Shake-down

3 Comments / bubble, CDO, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage / By

Editor’s Note: Here is another sore point in the mortgage meltdown: Developers were in on it up to their necks. One of the ways the appraisals were skewed was to use the developer’s asking price, which at times was rising by as much as 10% per month, giving the appearance of a rapidly advancing market. …

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