Beyond reproducing Mike's post, I want to underline this graph from David Min:
This punches a hole in the argument that Pinto and Wallison make that Fannie and Freddie were making "dangerous loans" when they moved to higher LTV and lower FICO lending. Their models allowed for offsets--if one had a very low LTV, one could get by with a relatively low FICO, and vice versa. The private label market allowed for lending standards that were crappy in all dimensions.
3 comments:
Whenever i see the post like your's i feel that there are helpful people who share information for the help of others, it must be helpful for other's. thanx and good job.
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Richard,
Thanks for these two posts. I agree that many people have been too quick to blame everything on the GSEs and CRA.
But do you believe that there still would have been a housing bubble and crash in the absence of government policies promoting homeownership?
DAVID LINDAHL says that, Tax Lien or Tax Deed? This query occurs a lot among traders eager in Tax crime real estate investment. What's the distinction between Tax liens and Tax actions and which is better to get in? The response to that query is this, which are you looking to do, earn cash on your money? Or own real estate asset with your cash / investment? If you just want to get the interest amount and charges on your investment then Tax Liens is the best choice.
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