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John Preston's  Instablog

For 30 years I've worked with Main street, in a variety of capacities, on housing, mortgage and real estate related issues. My experience includes origination, both for institutional lenders, mortgage bankers and as a mortgage broker; managment of origination and operations; product developmnent... More
  • Why the Obsession, Part 1

     

    I read much of what is posted on the mortgage/real estate/housing section as that his my career background. When I read many of the posts, most of which tend to report and recycle the news, and present very little in the way of objective analysis and resolution, I’ll admit that I get a little perturbed by the narrowly focused mindset that tends to dominate the general tone and tenor of the commentators.
     
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    Tags: Housing
    Aug 02 01:50 pm | Link | Comment!
  • My Take on the “10 Myths”, and Credit to Tom Lindmark

     

    There are a lot of myths in the 'popular culture" about housing and mortgage lending....
     
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    Tags: Economy; Housing
    Jul 23 01:43 pm | Link | Comment!
  • Please, Shoot the Vultures, but Don’t Blame Them for Being Vultures!

     

    Since Bernankes "We have a small subprime" comment, in mid-2007, mortgage delinquency is up like 300%...unemployment is up like 100%....foreclosures off the charts, and the economy is in the tank….You cannot stick your head-in-the-sand and expect problems to go away, and new ones not to appear.
     
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    Jul 21 09:35 am | Link | Comment!
  • Why NO DOC & Subprime Lending Will Come back

    Why should "prudent and practical" no doc lending bother people...

    Many SA authors and commentators seem extremely bent by this concept, and yet, like all other forms of lending, it has its place….done properly.
    Peter Drucker once said "the function of business is to create customers....through marketing and innovation"...
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    Jul 11 01:16 pm | Link | 1 Comment
  • Why Mortgage Modifications Have Failed

    The current crisis in housing has become a laughable tragedy. Many weakly formed opinions, very little constructive thought and almost no offering of workable solutions.

    We’ve tried the “let housing values fall’ plan, and as housing values fell…defaults, walk-a-ways, and foreclosures increased…consumer spending dried up…and unemployment jumped 100%. So that plan has failed.
    I never quite understood the let housing values cash plan. Those proponents must somehow be outside of the general economy, because, all of the experts I have read suggested that “as housing goes, so goes the general economy.” Robert Shiller predicted the slide in consumption in his “Wealth Effect” study…and other studies have supported his general conclusions. Perhaps everyone should find the studies and read up.
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    Tags: Housing, Economy
    Jul 09 09:35 pm | Link | 3 Comments
  • Mortgage Default and Skin-In-The-Game…and Why This Correlation is Wrong!

     

    Mortgage Default and Skin-In-The-Game…and Why This Correlation is Wrong!

    By John Preston

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    Tags: Housing and Real Estate, General Economy
    Jul 08 11:36 pm | Link | 3 Comments
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  1. Mortgage Default and Skin-In-The-Game…and Why This Correlation is Wrong! (3 Comments)
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Economy, Economy; Housing, General Economy, Housing, Housing and Real Estate
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