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Reply #13: They've been selling mortgages. [View All]

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NYC Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-21-06 09:20 PM
Response to Reply #10
13. They've been selling mortgages.
I'm sorry I can't explain it to you. I read an article in Business Week a month or two or three ago.

The mortgage lenders "sell" their mortgages. The high risk mortgages are packaged together, and become securities for sale.

I don't remember all the details, but it was very interesting, and a lot of the places making the high risk mortgage loans in the first place, are not losing money.

See if you can find the Business Week article. It is well worth reading.
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  -USA Today Adds Foreclosure Listings To Real Estate Web Site OhioChick  Dec-21-06 07:20 PM   #0 
  - Awful.  originalpckelly   Dec-21-06 07:24 PM   #1 
  - But if they're all mcmansions,  HypnoToad   Dec-21-06 07:25 PM   #2 
  - San Diego has become McMansion City  slackmaster   Dec-22-06 03:42 PM   #23 
  - Yeah. Just like the Depression.  Jackpine Radical   Dec-21-06 07:53 PM   #3 
  - Put on your tinfoil hats and consider...  fiziwig   Dec-21-06 07:54 PM   #4 
  - Legal loan sharks. They don't have to break arms any more, it's all covered by  karlrschneider   Dec-21-06 08:16 PM   #5 
  - No chance.  flvegan   Dec-21-06 08:22 PM   #6 
  - How do you figure that? They end up with all the equity plus whatever has been paid.  karlrschneider   Dec-21-06 08:36 PM   #7 
  - Really? Let's take a walk...  flvegan   Dec-21-06 08:48 PM   #8 
  - Okay, I stand corrected. I was going by personal experience in Florida in 1989.  karlrschneider   Dec-21-06 09:05 PM   #10 
  - Not superior  flvegan   Dec-21-06 09:14 PM   #11 
  - They've been selling mortgages.  NYC   Dec-21-06 09:20 PM   #13 
  - except that ABC no longer owns the note  cap   Dec-22-06 08:51 AM   #18 
  - Property in the hands of a lender is a liability  slackmaster   Dec-22-06 09:11 AM   #21 
  - Exactly!!!  Kingshakabobo   Dec-21-06 08:56 PM   #9 
     - You're a lender?  flvegan   Dec-21-06 09:17 PM   #12 
  - Plus all the 'Reverse Mortgages' they're marketing big-time to the Elderly...  zann725   Dec-21-06 10:24 PM   #15 
  - Yes, the republicon real estate scam  SpiralHawk   Dec-22-06 06:27 AM   #16 
  - Naw. 80% of new Silicon Valley jobs after the dot-com bust  crikkett   Dec-22-06 06:42 AM   #17 
  - No, foreclosures are definitely not what lenders want  slackmaster   Dec-22-06 09:06 AM   #20 
  - That can't be good...  MadMaddie   Dec-21-06 09:52 PM   #14 
  - USA Today providing foreclosure listings is inherently neither good nor bad  slackmaster   Dec-22-06 09:05 AM   #19 
     - That's why I love DU I find out more information here then  MadMaddie   Dec-22-06 02:54 PM   #22 
  - D*mn....  qwlauren35   Dec-22-06 03:54 PM   #24 
     - It is free (public domain)  slackmaster   Dec-22-06 04:18 PM   #25 

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