Tuesday, September 8, 2015

NINJAs Will be the Final Anhiliilation of Housing Bubble 2.0

Low documentation loans have actually been back for a while now if you have the credit score.  How many buyers in the past few years have used semi-exotic loan products?  How many of those have incomes directly related to the worldwide credit bubble ponzi?  I'd bet a sizable portion of the upper-middle and low-upper have done yoga contortions to squeeze into loans.  It's not a matter of these loans resetting and the monthly nut increasing as much as the global economic slowdown bringing the upper income earners back into the recession most never left.  Interesting times ahead...

Via Zero Hedge...

For “subprime”, read “non-prime”.
Yield-hungry investors are ready to endorse a revival of bonds backed by riskier US residential mortgages, as lenders warm to housebuyers who do not meet strict borrowing guidelines introduced after the financial crisis.  But the now toxic label of subprime mortgages has been dropped. Instead, Angel Oak Capital is in the process of pricing a deal for a bond offering of so-called “non-prime mortgages” — a term funds are using to describe mortgages that do not meet government standards. Lone Star Funds completed a deal worth $72m in August.

Saturday, September 5, 2015

This is harder than I thought...

 



I thought I could keep up a daily output despite the demands of my profession.  So far I have failed miserably.  Time to take advantage of the holiday weekend and begin daily posts now...