The Day the Subprime Died
Someone sent this to me from the Mortgage Grapevine:
The Day the Subprime Died
by Cedonullandvoid
A long, long time ago…
I can still remember
How that yield spread made me smile.
And I knew if I had my chance
Those borrowers I could finance
And I could pay my bills for a while.
But February made me shiver
With every good faith I’d deliver.
Bad news on my e-mail;
I just lost one more sale.
I can’t remember if I cried
When I saw the Fremont slide
But something touched me deep inside
The day the Subprime died.
So bye-bye, B\C money supply.
Sent my package to four lenders
But they all asked me why.
And good old boys were on a high
Singin’, “This’ll be the day the loans die,
This’ll be the day the loans die.”
Did you write some B\C loans,
Did you blow bucks on the iPhone?,
Did that nut Cramer tell you so?
Do you believe in rate control,
Can FHA save your borrower’s soul,
Why is underwriting today so damn slow?
Well, I know you’ll have to cut those fees
And you’re wondering who has moved your cheese.
Bernanke’s on the news.
You can’t afford the MBA dues.
I was a semi-rich middle-aged bronkin’ buck
With a master plan and a lot of pluck,
But I knew I was out of luck
The day the Subprime died.
So bye-bye, B\C money supply.
Sent my package to four lenders
But they all asked me why.
And good old boys were on a high
Singin’, “This’ll be the day the loans die.”
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
Comment by Maggie on 21 August 2007:
LOVE IT! Someone should really sing this and post it on UTube! LOL!!
Comment by Ralph on 23 August 2007:
I just found another one of these subprime songs which is making the rounds of the Internet.
——————————————————-
Yesterday
by Jesse F.
yesterdaycamesuddenly@hotmail.com
Yesterday,
Bankruptcy seemed so far away,
Now it looks as though it’s here to stay,
Oh, I believe in yesterday.
Suddenly,
I’m half the L/O that I used to be,
Unemployment’s hanging over me,
Oh, sub-prime ended suddenly.
Why they had to close I don’t know, they wouldn’t say.
I said,
My loans won’t fund, now I long for yesterday.
Yesterday,
Loans were such an easy game to play,
Now I need a place that underwrites my way,
Oh, I believe in yesterday.
Why they
Had to close I don’t know, they wouldn’t say.
I said,
Something’s wrong, now I long for more Alt-A.
Yesterday,
Qualifying was an easy game to play,
Now those programs have all gone away,
Oh, I believe in yesterday.
Mm-mm-mm-mm-mm-mm-mm.
Pingback by Yesterday, Bankruptcy seemed so far away… — The Real Estate Bloggers on 23 August 2007:
[...] This was sent to me by a reader named Ralph, another funny adaptation on the present real estate situation. Goes right along with The Day The Subprime Died. [...]
Comment by Kevin M. Cheek on 25 August 2007:
I wrote The Day the Subprime Died a few weeks ago and it has been forwarded all over the innertubes. I just wanted to say thanks for crediting the Mortgage Grapevine as the source. Yours is the first blog I have seen that credited it properly.
Comment by Amy B on 27 August 2007:
OMG!!! This is the funniest thing I have ever seen!