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Seattle Bubble Forum Archive • View topic - From the internets (youtube), I present you Mr. Mortgage

From the internets (youtube), I present you Mr. Mortgage

Myth propagated by bitter ignorant renters, or statistical reality ignored by real estate professionals?

Moderators: synthetik, The Tim, Lake Hills Renter

From the internets (youtube), I present you Mr. Mortgage

Postby hesotriflin » Tue Apr 08, 2008 10:02 am

Watched a couple of his videos, and Mr. Mortgage gives a pretty good insider's look at the mortgage business during the bubble.

http://www.youtube.com/user/markmti
hesotriflin
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Re: From the internets (youtube), I present you Mr. Mortgage

Postby SeattleMoose » Wed Apr 09, 2008 11:37 am

Good info...but not too surprising.

Wells Fargo...."it all those OTHER banks....but not us."

So the CEOs and esteemed "captains of industry" steered their ships (and all of us...implicitly) onto the rocks expecting to retain their rank/big bonuses, and knowing full well that they would be granted a "new ship" by the FED/Govt in the form of crony bailouts.

In my book if you are the captain when the ship goes onto the rocks....you are held accountable.

Lesson so far in this whole thing is "crime pays".
SeattleMoose
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Re: From the internets (youtube), I present you Mr. Mortgage

Postby rose-colored-coolaid » Wed Apr 09, 2008 12:48 pm

rose-colored-coolaid
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Re: From the internets (youtube), I present you Mr. Mortgage

Postby brettro » Wed Apr 09, 2008 2:01 pm

i'm a big hedgie fan.
Coffee is for closers.
brettro
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Re: From the internets (youtube), I present you Mr. Mortgage

Postby aldreth » Wed Apr 09, 2008 9:20 pm

1. HELOC's have pretty much gone the way of the DoDo Bird as have stated income loans.

2. Banks haven't written down any prime mortgages, they haven't even written off 30% of subprime yet.

3. 98% of housing auctions have failed. They have received no bids despite being sold at fire sale prices (about 16% of what is left to be paid on the loan.)

4. 70% of all transactions now coming through are Notices of Default, the foreclosure wave hasn't even begun to hit us yet.

5. .... BOOM....
aldreth
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Re: From the internets (youtube), I present you Mr. Mortgage

Postby Matthew » Thu Apr 10, 2008 5:00 am

I'm writing in Genesis for prez and Hedgie for VP in 2008!
Matthew
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Re: From the internets (youtube), I present you Mr. Mortgage

Postby Matthew » Thu Apr 10, 2008 5:10 am

By the way, if anyone is interested in more of these vids you can check them out at

http://www.tickerforum.org/cgi-ticker/a ... sentations

There are some really good vids by both Mr. Mortgage aka Hedgie and KD aka Genesis.
Matthew
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