Contributing Member of the Financial & Business Services Councils

All News Analyses by this Author

The Bandwagon Gets Crowded: New Regs for Mortgage Credit Now All the Rage

July 13, 2007

Analysis of:Regulators Tighten Subprime-Lending Rules | online.wsj.com

Monday morning quarterbacking is the new pasttime of regulators, community activists and lawmakers. Indignity over the abuses that unscrupulous mortgage lenders heaped on unsuspecting homebuyers is rampant. There were some abuses; most of it, however, was stupidity. And consumers, investors in housing as well as mortgage lenders--they ALL are to blame. But only the lenders and owners of the loans and their resulting securities will be penalized--in the short run; long-term, mortgage credit will be less available, higher-priced, and will decrease the homeownership rate in the U.S.

Sub-Prime Opportunities: Too Soon to Act?

March 12, 2007

Analysis of:New Century's Trials Are An Opportunity | www.forbes.com

Yes, we will face the demise and break-up of dozens if not hundreds of sub-prime mortgage shops.

Yes, we also will watch many prime mortgage originators suffer misfortune, dragged along by the foreclosure/buy-back non-performing loans that have plagued sub-prime lenders and servicers and the adverse impact on housing values virtually every foreclosure brings to bear.

But is now the time to act?

Subprime Lending and Servicing: The Former Darlings Lose Value

March 9, 2007

Analysis of:Subprime Game's Reckoning Day | online.wsj.com

Doomsayers foretell huge secular crashes resulting from the subprime bust and the real estate bubble. Others say "not so fast, it will not get that bad."

So what are the key points on which to focus?

Well, the first point when assessing each company is this: is it a depository or a non-depository?

B of A jumps into illegal alien credit

February 15, 2007

Analysis of:Bank of America eases credit card rules | www.iht.com

1. Bank of America and others are acting in their economic interest;

2. It is illegal to discriminate due solely to national origin;

3. This kind of program ultimately will serve as an assimilation technique for illegal immigrants.

Herd Mentality of Investors in Mortgage Industry

January 31, 2007

Analysis of:Originators Closing Theirs Doors | www.nationalmortgagenews.com

It continues to amaze me how the herd mentality affects actions and investments.

We all know the mortgage industry is going through a gut-wrenching, chaotic period: Rates have risen, originations of new loans have fallen, credit quality has eroded, delinquencies have risen, and foreclosures--always a trailing indicator--have increased sharply. In short, the industry is going through a healthy, albeit excrutiatingly painful, correction. During the three years of 40-year-low interest rates, every mortgage person looked like a genius. Now, they are getting fired or going down with their ships.

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