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.”
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LOVE IT! Someone should really sing this and post it on UTube! LOL!!
I just found another one of these subprime songs which is making the rounds of the Internet.
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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.
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.
OMG!!! This is the funniest thing I have ever seen!
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