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Re: Unbelievable - housing
Old 12-14-2006, 01:34 PM   #21
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Re: Unbelievable - housing

Quote:
Originally Posted by brewer12345

Haaaaaahahahahaha...

Nope, mortgage insurance was mostly not used in the bubble market because 80/20 piggyback structures were far cheaper than paying PMI.
Don't know as I have been out of that business for 6 or 7 years.... maybe I could ask an old friend, but most have gone onto structured deals and left the mortgages behind...

But, no matter, the deals were structured where there were 'safe' traunches and 'risky' traunches. You would think that the people buying them knew what they were buying... then again, you used to hear how someone lost millions buying IO bonds and the interest rates were going down..
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Re: Unbelievable - housing
Old 12-14-2006, 01:41 PM   #22
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Re: Unbelievable - housing

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Originally Posted by Texas Proud
But, no matter, the deals were structured where there were 'safe' traunches and 'risky' traunches. You would think that the people buying them knew what they were buying... then again, you used to hear how someone lost millions buying IO bonds and the interest rates were going down..
Yeah, the tranching still happens that way. The Aaa-rated stuff won't take any losses, but everthing else in the structure will eitehr get downgraded or hurt if loans start blowing up in large numbers.
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Re: Unbelievable - housing
Old 12-14-2006, 11:17 PM   #23
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Re: Unbelievable - housing

Is it true that 100 year mortgages are now being offered? Your great grandchild will get to hold the mortgage burning ceremony!

I prefer the ING slogan: the best mortgage is no mortgage


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Re: Unbelievable - housing
Old 12-15-2006, 11:35 AM   #24
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Re: Unbelievable - housing

Or a Latin description:

MORT - means "death"

GAGE - means "grip"

So, a mortgage is Latin for "death grip".................
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