Sex, lies, brokers, and mortgage sluts define home lending

Mortgage brokers are out and direct lending is in. Many of the major mortgage lenders that brokers dealt with nationwide have either gone out of business, been acquired or pulled back. Some are under indictment for mortgage fraud, while others – both mortgage brokers and mortgage wholesalers – are telling about sex, drugs, parties, and …

When the neighbor saves $100,000 while you keep paying

Aline van Duyn of FT.com wrote a great article that explains a few things about mortgage modifications. I quote part of van Duyn’s article below. But that is not the real shocker. While approximately 35 percent of people are struggling with mortgages, what really drives me wild is what happens when the neighbor gets $100,00 …

Investors prevent mortgage modifications, hurting homeowners

Today, about 80 percent of the $1.8 trillion in troubled mortgage loans belong to investors, according to Deutsche Bank. The rest are considered “whole loans,” held by banks or government-run mortgage giants Fannie Mae and Freddie Mac. Some people might not feel sorry for the investors, but others think investors were mislead about the safety …