Subprime Lending Fallout
The subprime lending fallout is occurring and it will be with the real estate community for the next couple of years. A previous post showed the Top 10 Markets With Highest Mortgage Risk but a great analysis by Michael Cook at Bloodhound Blog shows how it affects many different markets and funds, and why a turnaround of the real estate industry in markets with heavy subprime penetration will not be occurring anytime soon.
When the low creditworthy borrower applies for a subprime loan, many of the intermediaries no longer exist. Even if they try to go to a mortgage broker, they will be hard pressed to find a lender. If they do find a lender, this lender will have trouble moving the loan to an investment bank. Investors, who have been burned by heavy defaults (i.e. Bear Stearns Hedge Funds), will not be looking to buy high yield bonds backed by subprime loans. Additionally, those who are looking will expect to pay deep discounts. Read the rest at Bloodhound Blog.
My mom told me to put the statue in the ground, just seems wrong to me but I did it. ...
What about RE/MAX Commercial? Where this classification came from?
I am pretty sure RE/MAX Commercial in volume sales must be above ...
Well Tom, once again you have said it much better than I could have. Unfortunately the folks at Move, ...
It certainly does not bode well for a fast recovery in the economic climate. This will affect all real estate ...
I HAVE 25 YEARS EXPERIENCE IN TELECOMMUNICATIONS..HOW DO I APPLY AT KAI. 
Definitely not a fan of Move Inc.!!! 
A lot of you really need to go back to kindergarten and learn to spell correctly. If you cannot spell ...
In 2008, there was an extension to push first-time home buyers to purchase their homes quickly since the program did ...
I also need HELP and don't know what to do about my problem. I have a garden apartment off ...
I have the same situation. I sold my home in July and am scheduled to to close in a few ...
