Posts tagged as:

MBA

Mortgage bankers seem depressed at convention

by Moe Bedard

Many of these banking vampires used to operate their businesses on serving consumers a high fee and toxic loan platter to their CEO Overlords for consumption daily. Now, they seem to be bit bummed out on banking lately and having to do business the right way.

CEO’s will not be as fat in the new banking world and [...]

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The OCC Wants the Real Loan Modification Numbers

by Moe Bedard

Hope Now and the MBA asked, “So, how many loan modifications did you do Litton?”
“3,235,” the Litton rep said.
The boys at the “round table” pick up the phone and call Angelo, “How many did you do Countrywide?”  
“We did 7,978 guys. Never mind that!” Mr. Mozilo said,”We’re going to have martinis later on  the golf course!”
Listen here [...]

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Should Grandma be able to keep that house she refinanced at 125% to pay for her cruises to Hawaii or her “pretty” things, and now can’t cover her payments with her monthly social security check?

by Moe Bedard

Reader Contributed – RC  (in response to this post on the MBA)
I don’t comment to these posts on all the forms I read (seemingly all day long lately), but I felt I needed to put in my brief 2 cents on this one. While I respect your view that the Mortgage Bankers Association is the Big [...]

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A broad approach would “significantly disrupt the reasonable expectation of investors”

by Moe Bedard

By Moe 
George Miller, executive director of the American Securitization Forum made the above comment in an interview earlier this month along with this comment in regards to a mass loan modification approach, ““It is really an indiscriminate procedure that would violate the terms of the contract that provide for loan-by-loan decision making.”
First of all, I understand contracts [...]

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