Is the end in site? real estate issues
July 24, 2007
What Could Topple Bulls' 'Wall of Worry'? | online.wsj.com
The implication in the prior articles is that the issue is over with sub-prime. It is not, it just first manifested istelf there. The Alt A product is now showing higher delinquencies then forcasted. The bigger issue is the resets, number of loans (inventory) on the market and depreciating home values.
Perfect Storm in Default: Mortgage Servicing News Febraury
March 5, 2007
Subprime Game's Reckoning Day | online.wsj.com
I agree with the Wall Street Journal article. I had an article in Mortgage Servicing News in the February MBA Servicing Conference Issue title the "Perfect Storm in Defualt." My remarks and commentary are attached below.
The issues raised in the Wall Street Journal article are applified and dimensioned in my article.
Highlights the need for different workout solutions or face a liquidity crisis for mortgages and possibly the whole MBS market.
Highlights the needs for different thinking than exists in the current Pooling and Servicing Agreements.
Points the issues of why we are not only headed to recession but a bad recession.
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