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Genesis Posts: 66463 Incept: 2007-06-26 
Royal Flush! 
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http://market-ticker.denninger.net/archi....
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-24 08:40:43
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Yahuw Posts: 338 Incept: 2008-01-17 
Charlotte
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You're getting clever with your titles every day. Good ticker.
---------- I have no signature! Last modified:
2008-06-24 08:44:50 by yahuw
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Wthef Posts: 601 Incept: 2008-02-25
philadelphia
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thank you for everything you do and sharing your knowledge
---------- "I had to look at her today and sat there staring at her bronze naked body laying in the sun, a flaming red candle in her hand she took me in. Her figure consumed me 36-32-34 and said "take me" I stumbled forward as I engaged her stare and she pulled me down towards her. I ripped off my shirt and dropped my pants, we f 2008-06-24 10:01:39
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Themortgagedude Posts: 3344 Incept: 2007-12-17 
saint louis
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Nothing but 100% financing there and Nehamiah or other DPA programs get paid to shuffle money. There was never any doubt in my mind that these would have much higher default rates. I have been saying for last 7 or 8 years that if FHA wants to do 100% financing they should go ahead and do it. But do it with risk based pricing. These deals were priced the same as regular downpayment loans with FHA and that is a crock of ****. All they were doing was allowing 100.50% ltv loans and giving the 1/2 pt to the "nonprofit". And like I have always said - NONPROFIT - MY ASS! Just because you get the nonprofit status doesn't mean you aren't interested in making a profit. You just pay it out in salaries.
---------- Since September it's just gotten colder and colder. There's less daylight now, I've noticed too. This can only mean one thing - the sun is going out. In a few more months the Earth will be a dark and lifeless ball of ice. 2008-06-24 10:12:52
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Adkisson3 Posts: 2 Incept: 2008-02-25 Washington
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I believe you will never see disclosure of the "friends of Angelo" discount. There were a ton of programs and every loan officer was able to give a discount to ANYONE, especially if a borrower was price shopping - Countrywide had higher pricing than other lenders at times. As far as the FHA product - numbers don't lie. I've always believed in home ownership as it brings lowered drug use, lower teen pregnancies, lower crime rates, etc. Families care about where they live and this strengthens communities. I agree with themortgagedude where 100% financing should be allowed with risk-based pricing AND tighter guidelines on debt-to-income ratios. 2008-06-24 10:40:49
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Adrenaline_junky Posts: 1578 Incept: 2007-09-14
Chicago
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Adkisson3, home OWNERSHIP is great. Having a bunch of people PRETEND they own homes when in fact they are debt slaves with no home equity is not. The level of real home ownership, as measured by percentage of equity, dropped substantially from historical norms during the housing boom. The whole "increased home ownership" that kept being touted was a fraud. ---------- "A young healthy child well nursed, is, at a year old, a most delicious nourishing and wholesome food, whether stewed, roasted, baked, or boiled; and I make no doubt that it will equally serve in a fricassee, or a ragout." - Jonathan Swift from "A Modest Proposal" 2008-06-24 12:36:39
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Fatso Posts: 1489 Incept: 2008-02-03
Roll on up, gonna roll back down
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Gen, I really like the shorter, more bite sized ticker today. In this Attention Deficit Disorder world juxtaposed with information overload, I think people are more amenable to something they can digest in 5 minutes versus 20. Again, thanks for your insight and due diligence. ---------- The most defining theme, and overriding purpose, of the U.S. Constitution is to limit the power of the federal government. Over that, there can be no historical, or textual, debate. - Tickerfan 2008-06-24 13:06:16
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Guy1976den Posts: 740 Incept: 2007-09-19
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I thought that price increase of 25% and another 25% is 56.25%! $100 * 1.25 = $125 x 1.25 = $156.25 2008-06-24 13:10:02
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Genesis Posts: 66463 Incept: 2007-06-26
Royal Flush!
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25% + 20% = 150% in total.
---------- I used to play flute; I wonder if I can play a fife? I incite prosecutors to create "Bubba Sausage Parking Lot" projects Darrell Issa has a middle finger and knows how to use it - Me 2008-06-24 13:22:30
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Bw8472 Posts: 6446 Incept: 2007-06-28
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This is distressing to say the least. Probably time to begin looking for things that are anchored down to hold onto when the SHTF storm reaches full gail force, EPA suits are going to be in demand as well as handgrips. ---------- At what point then is the approach of danger to be expected? I answer, if it ever reach us, it must spring up amongst us. It cannot come from abroad. If destruction be our lot, we must ourselves be its author and finisher. As a nation of freemen, we must live through all time, or die by suicide. ~Abraham Lincoln 2008-06-24 14:38:20
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Themortgagedude Posts: 3344 Incept: 2007-12-17
saint louis
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Adkisson- I didn't advocate 100% financing for FHA, I contend that if you are going to do it you should do it like you are talking about. But personally my feelings are if you can't come up with 3% down of your own money you shouldn't be buying a house. Otherwise you really in effect are just renting with an option to buy. And when you rent you normally have to have a security deposit.
---------- Since September it's just gotten colder and colder. There's less daylight now, I've noticed too. This can only mean one thing - the sun is going out. In a few more months the Earth will be a dark and lifeless ball of ice. 2008-06-24 14:53:36
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