• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

interesting read on the Chase 9 billion fine(and not 14 like we've been told)

Page 2 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.
LegendKiller said:
Please show me the specific pools that evidence this rate because I find it a bunch of bullshit exaggeration.

In fact, when I get to work Monday, I'll ask my agency RMBS PM, who manages many billions of agency and non-agency mortgages (and has won the Lipper award for several years) whats the worst pool he's ever seen.
Click to expand...

I made a correction it should have been 35-40% total default, still very high. These are purchase money loans only though from low income people. This was a special program to help low income families afford homes, that FNMA participated in. Also these are not publicly traded MBSes, we hold these FNMA securities.
 
Last edited:
Brovane said:
What a joke that no perp walks happend out of that mess. They comitted fraud and since they are so big nobody will do anything against it. I have a feeling this same crap will happen all over again. If major executives had been frogged marched out the front door of their banks offices in handcuffs that would have made a impression on the rest of them.
Click to expand...
Impressions:

- Wow, that guy must have done something to piss off the wrong person in Washington. I should be ok though.

- Huh, I guess he didn't make a very good offer for an out-of-court settlement. I should find out how much was offered and to whom it was.



"Oh shit, I might go to jail myself" isn't likely to cross their minds.
 
DCal430 said:
I made a correction it should have been 35-40% total default, still very high. These are purchase money loans only though from low income people. This was a special program to help low income families afford homes, that FNMA participated in. Also these are not publicly traded MBSes, we hold these FNMA securities.
Click to expand...

Still bullshit.

1. There isn't a single conforming loan program that has a 35-40% default rate. Not a single one and I challenge you to provide any shred of evidence to the contrary.

2. Mortgages aren't securities. Spec pools aren't securities. Show me the proof.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top