tag:blogger.com,1999:blog-7905515.post773525029386653343..comments2024-03-14T11:09:32.759-05:00Comments on Falkenblog: Calomiris on Underwriting ProblemsEric Falkensteinhttp://www.blogger.com/profile/07243687157322033496noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-7905515.post-85181432854136895212011-11-09T23:28:05.129-06:002011-11-09T23:28:05.129-06:00In exchange, the company issues junior subordinate...In exchange, the company issues junior subordinated debt to the trust with essentially the same terms as the trust's preferred stock.Australian Expat Mortgagehttp://www.mortgagebrokeraustralia.org/expatriate-australian-mortgage/noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-50493615042672520562011-11-09T23:25:36.196-06:002011-11-09T23:25:36.196-06:00All steps except the formation of the trust occur ...All steps except the formation of the trust occur simultaneously. If the issuing company is a bank holding company, it will also usually guarantee the interest and maturity payments on the trust preferred stock.Company Home Loanhttp://www.homeloanexperts.com.au/borrowing-with-a-trust/company-home-loan/noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-37958316729794980572011-10-30T12:34:33.761-05:002011-10-30T12:34:33.761-05:00"if the mortgage-underwriting standards at Fa...<i>"if the mortgage-underwriting standards at Fannie and Freddie circa 2003 had remained in place, nothing like the magnitude of the subprime crisis would have occurred."</i><br /><br />... doesn't this comment get things precisely the wrong way round? Surely, "In order for the lending spree of the noughties to continue the mortgage underwriting standards had to be removed." is the correct way of stating this?<br /><br />As always on this subject, "All the Devils Are Here" has the full picture.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-69210490470412705322011-10-29T02:22:08.125-05:002011-10-29T02:22:08.125-05:00There's an online tool called Desktop Underwri...There's an online tool called Desktop Underwriter (DU), which you can read about here:<br /><br />https://www.efanniemae.com/sf/technology/ou/du/aboutdu.jsp<br /><br />Get your whole evaluation workflow down to 15 minutes.<br /><br />This tool has become standard across the entire industry, so even the loans that don't go through the FNMA will probably get evaluated with the DU tool anyhow. The lessons from biology are clear, lack of diversity leaves everyone vulnerable to a single (highly correlated) mode of failure.Telhttp://lnx-bsp.net/noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-57839059165512574462011-10-28T15:43:32.987-05:002011-10-28T15:43:32.987-05:00Bring on the Housing Cause Denialists!Bring on the Housing Cause Denialists!Patrick R. Sullivannoreply@blogger.com