Image via Wikipedia Okay, Mish and I are not politically aligned, but I like his approach and I think this Obama budget is going to be a powder keg in both parties. Full of democratic policy initiatives, much like the economic stimulus package, this budget is going to drive Americans and politicians crazy with images of overusing political capital. In classic Mish fashion he captures the key points: With all due respect Mr. President, Tim Geithner and Ben Bernanke are offering the same … [Read more...]
Are Mortgage Brokers Vanishing?
February 27, 2009 By Leave a Comment
Image by TheTruthAbout... via Flickr I caught this quote over on LeadCritic.com (a blog about mortgage lead generation): we have slowed for 2 reasons - the first is that all the leads we had purchased in the past are finding us again - or we are finding them - so no need for "new" leads, but more importantly is that our funding source (warehouse banks) options have constricted. I would think this is the same for many lenders - even the banks (some - cant speak for all of course) who you … [Read more...]
The Quants Killed Wall Street
February 24, 2009 By Leave a Comment
Image via Wikipedia Great article by Felix Salmon in Wired--Recipe for Disaster: The Formula That Killed Wall Street I remember back in my DeepGreen Bank days structuring and pitching home equity portfolios for sale and securitization. It is amazing up in the ivory towers of Wall Street it got very abstract, while on the front-end of getting into the palaces (Wall Street firms, rating agencies, and mortgage insurers) it was good old fashion salesmanship. This article is a great walk-through … [Read more...]
