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Monday, 18-Aug-2014 18:43 Email | Share | Bookmark
Here We Go Again? Wall Street Buying Risky Mortgages - Yahoo New












The New York Times today highlights a little trend among big investors to buy up pools of delinquent, bubble-vintage mortgages. These are loans on properties about enter foreclosure, and the folks buying them are basically doing salvage work, grabbing somewhat higher yields while betting on recovering some percentage of face value. Then theres a Reuters piece on the revival of a kind of low-documentation stated-income loan mortgages extended by subprime lenders to borrowers who cant provide paperwork like pay stubs or tax returns. Both stories are infused with the tone of Can you believe it? and Here we go again and Will we ever learn? But this coverage says a bit more about how we in the media remain anchored in the old bubble-and-bust storyline than it does about genuine threats to financial health now. The mopping up of old, broken housing debt is exactly what youd want to see at this stage, with clearer eyes on property values and cheap capital seeking a home. As for the low-doc loans, the lenders are saying theyre mostly to small business people and such, and theyre requiring bank or brokerage statements showing an ability to cover at least half a years payments. <br>For http://www.commercial.350.com/page-3.htm the original version including any supplementary images or video, visit http://news.yahoo.com/here-we-go-again--wall-street-buying-risking-mortgages-132536117.html



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