cromag's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/162610/comments http://seekingalpha.com/article/120039-bond-expert-the-emperor-has-no-clothes?source=feed#comment-384945 384945 Wed, 11 Feb 2009 22:34:15 -0500 http://seekingalpha.com/article/98533-fannie-and-freddie-did-not-cause-this-crisis?source=feed#comment-274383 274383
You say "they [Mortgage Brokers] have every incentive to push the guidelines as hard as they can and to find a way around them whenever possible.

If mortgage brokers had done their job and only made loans to people who could pay them back..."

Fannie and Freddie created an automated underwriting system where a computer algorithm checks the data and issues an approval. The algorithm would approve loans in excess of 65% total debt ratio and sometimes not require income verification. This had nothing to do with the Broker/Originator and everything to do with Fannie and Freddie.

The GSE's approved these parameters and the rest of the lenders followed suit, even within their own porfolio products. The Algorithms did the underwriting, the brokers did the originating, not the other way around.
]]> Sun, 05 Oct 2008 23:39:40 -0400
You say "they [Mortgage Brokers] have every incentive to push the guidelines as hard as they can and to find a way around them whenever possible.

If mortgage brokers had done their job and only made loans to people who could pay them back..."

Fannie and Freddie created an automated underwriting system where a computer algorithm checks the data and issues an approval. The algorithm would approve loans in excess of 65% total debt ratio and sometimes not require income verification. This had nothing to do with the Broker/Originator and everything to do with Fannie and Freddie.

The GSE's approved these parameters and the rest of the lenders followed suit, even within their own porfolio products. The Algorithms did the underwriting, the brokers did the originating, not the other way around.
]]> http://seekingalpha.com/article/94314-the-great-dollar-pump-of-2008-a-doomed-central-bank-intervention?source=feed#comment-249873 249873
I wonder how the Gold Carry Trade and spiking Gold Lease Rates play into this.

www.gata.org/node/4608
www.kitco.com/lease.ch... ]]> Tue, 09 Sep 2008 20:37:26 -0400
I wonder how the Gold Carry Trade and spiking Gold Lease Rates play into this.

www.gata.org/node/4608
www.kitco.com/lease.ch... ]]> http://seekingalpha.com/article/83878-etf-update-there-s-gold-in-them-thar-hills?source=feed#comment-199561 199561 Mon, 07 Jul 2008 03:36:03 -0400 http://seekingalpha.com/article/79753-the-rising-risk-of-emerging-markets?source=feed#comment-178340 178340 stockcharts.com/charts...

]]> Tue, 03 Jun 2008 01:51:13 -0400 stockcharts.com/charts...

]]> http://seekingalpha.com/article/78269-the-new-wave-of-infrastructure-investing-jp-morgan?source=feed#comment-171534 171534 IGF) for a few months and it's done OK but what's with the Macquarie Global Infrastructure Total Return Fund (MGU)? It's trading at a discount of -6.60% with a 5.71% dividend, paid quarterly.

www.etfconnect.com/sel...]]> Thu, 22 May 2008 02:14:46 -0400 IGF) for a few months and it's done OK but what's with the Macquarie Global Infrastructure Total Return Fund (MGU)? It's trading at a discount of -6.60% with a 5.71% dividend, paid quarterly.

www.etfconnect.com/sel...]]> http://seekingalpha.com/article/78269-the-new-wave-of-infrastructure-investing-jp-morgan?source=feed#comment-171528 171528 FXZ)

It's up 11.49% in the last 3-months and 7.62% YTD

Also, it's trading at a 0.41% discount as of 5/20/2008 !

Here are their top 10 holdings
Cleveland-Cliffs Inc. CLF 3.78 %
Fluor Corporation FLR 3.26 %
Westlake Chemical Corporation WLK 3.16 %
AK Steel Holding Corporation AKS 3.08 %
The Mosaic Company MOS 2.86 %
Crown Holdings, Inc. CCK 2.74 %
Nucor Corporation NUE 2.73 %
Steel Dynamics, Inc. STLD 2.71 %
Reliance Steel & Aluminum Co. RS 2.69 %
McDermott International, Inc. MDR 2.64 %

Here's a link to their website
www.ftportfolios.com/R...
]]> Thu, 22 May 2008 01:51:22 -0400 FXZ)

It's up 11.49% in the last 3-months and 7.62% YTD

Also, it's trading at a 0.41% discount as of 5/20/2008 !

Here are their top 10 holdings
Cleveland-Cliffs Inc. CLF 3.78 %
Fluor Corporation FLR 3.26 %
Westlake Chemical Corporation WLK 3.16 %
AK Steel Holding Corporation AKS 3.08 %
The Mosaic Company MOS 2.86 %
Crown Holdings, Inc. CCK 2.74 %
Nucor Corporation NUE 2.73 %
Steel Dynamics, Inc. STLD 2.71 %
Reliance Steel & Aluminum Co. RS 2.69 %
McDermott International, Inc. MDR 2.64 %

Here's a link to their website
www.ftportfolios.com/R...
]]> http://seekingalpha.com/article/75377-fed-delivers-a-steep-yield-curve-a-bulls-best-friend?source=feed#comment-161059 161059 Sat, 03 May 2008 03:30:06 -0400 http://seekingalpha.com/article/75397-fast-and-easy-fannie?source=feed#comment-161057 161057
Fast & Easy were real A-paper loans and very high jumbo loan amounts in California.

The worst part is that this fraud is still going on in the industry. I don't think that the people who work for lenders care because there are no consequences for their actions so they recommend them to their wholesale clients and the wholesale clients are just dumb enough to do what they are told is OK. The borrowers just go with the flow. The sad thing is the good Brokers lose a lot of business because they don't play along. It's terrible. But it happens at the in-house bank level too. More even! I personally caught one and had the regional VP of this huge bank pay for it by redoing the loan properly at a huge cost to the bank and very low rate to me.

I'll take this one further in the Prime Alt-A direction, where guidelines allowed a No Ratio loan. Borrowers with 80% equity (LTV), good credit scores like 700+ FICO or even 680 and with 2-months PITI reserve assets like 401k or IRA, were allowed to leave the income line BLANK. They just needed to verify that they had a job. If you gave the lender tax returns you were suppose to black out the income. Rates for these No Ratio Alt-A loans were not much higher than the Fast & Easy rates. 0.25% to 0.50% higher in rate. That's a quarter to half a percent higher rate! for NO Income.

The only thing protecting us 'investors' is the tighter liquidity and declining home values. Most people just don't qualify anymore.

SIDE NOTE: We had a plumber come by the house yesterday to quote a re-pipe and when he found out I was a mortgage broker he asked if there was anything he could do because he took all his equity out of his inflated Silicon Valley CA home and bought FOUR rental properties in Florida. All the properties have lost a lot of value since then and he is in negative cashflow in all but one. This is not an isolated thing. I think there is a lot more pain coming.]]> Sat, 03 May 2008 03:21:34 -0400
Fast & Easy were real A-paper loans and very high jumbo loan amounts in California.

The worst part is that this fraud is still going on in the industry. I don't think that the people who work for lenders care because there are no consequences for their actions so they recommend them to their wholesale clients and the wholesale clients are just dumb enough to do what they are told is OK. The borrowers just go with the flow. The sad thing is the good Brokers lose a lot of business because they don't play along. It's terrible. But it happens at the in-house bank level too. More even! I personally caught one and had the regional VP of this huge bank pay for it by redoing the loan properly at a huge cost to the bank and very low rate to me.

I'll take this one further in the Prime Alt-A direction, where guidelines allowed a No Ratio loan. Borrowers with 80% equity (LTV), good credit scores like 700+ FICO or even 680 and with 2-months PITI reserve assets like 401k or IRA, were allowed to leave the income line BLANK. They just needed to verify that they had a job. If you gave the lender tax returns you were suppose to black out the income. Rates for these No Ratio Alt-A loans were not much higher than the Fast & Easy rates. 0.25% to 0.50% higher in rate. That's a quarter to half a percent higher rate! for NO Income.

The only thing protecting us 'investors' is the tighter liquidity and declining home values. Most people just don't qualify anymore.

SIDE NOTE: We had a plumber come by the house yesterday to quote a re-pipe and when he found out I was a mortgage broker he asked if there was anything he could do because he took all his equity out of his inflated Silicon Valley CA home and bought FOUR rental properties in Florida. All the properties have lost a lot of value since then and he is in negative cashflow in all but one. This is not an isolated thing. I think there is a lot more pain coming.]]> http://seekingalpha.com/article/74551-are-homebuilders-a-buy?source=feed#comment-159916 159916
Construction work is slow and contractors are bidding lower to get jobs and are taking smaller side jobs.

The price of raw materials is going up and if inflation hits hard, the builders may end up holding on to properties short term but may clean up big if long.]]> Thu, 01 May 2008 02:16:55 -0400
Construction work is slow and contractors are bidding lower to get jobs and are taking smaller side jobs.

The price of raw materials is going up and if inflation hits hard, the builders may end up holding on to properties short term but may clean up big if long.]]> http://seekingalpha.com/article/74014-the-no-amount-of-bad-news-can-bring-this-market-down-trades?source=feed#comment-157333 157333
GrantMe: "1.who are you voting for in Nov? 2. Why?

Does it matter? The boy with the money just buy the sheeple votes or rig the numbers anyway. I don't think we the people have much say because the she lower IQ sheeple are easily controlled. Love the "running others over in the Wal-Mart parking lot" quote LOL]]> Sun, 27 Apr 2008 03:20:45 -0400
GrantMe: "1.who are you voting for in Nov? 2. Why?

Does it matter? The boy with the money just buy the sheeple votes or rig the numbers anyway. I don't think we the people have much say because the she lower IQ sheeple are easily controlled. Love the "running others over in the Wal-Mart parking lot" quote LOL]]> http://seekingalpha.com/article/73839-money-flows-into-the-market-what-they-re-telling-us?source=feed#comment-156929 156929
Anyway, the $150B stimulus package just might inflate another GDP bubble of illusionary consumption spending. We the people elect a President who hands our money back to us in a stimulus package to re-inflate and make us think we are still 'collectively' rich. The nouveau riche a have exhausted their equity lines and it's time for the pain.

This is far from over.]]> Fri, 25 Apr 2008 21:23:48 -0400
Anyway, the $150B stimulus package just might inflate another GDP bubble of illusionary consumption spending. We the people elect a President who hands our money back to us in a stimulus package to re-inflate and make us think we are still 'collectively' rich. The nouveau riche a have exhausted their equity lines and it's time for the pain.

This is far from over.]]> http://seekingalpha.com/article/73552-the-impending-mortgage-crisis?source=feed#comment-156863 156863 Fri, 25 Apr 2008 18:18:38 -0400 http://seekingalpha.com/article/73552-the-impending-mortgage-crisis?source=feed#comment-155633 155633 Wed, 23 Apr 2008 23:34:40 -0400 http://seekingalpha.com/article/73552-the-impending-mortgage-crisis?source=feed#comment-155632 155632
If my suspicion is correct, it would make a large part of this article worthless though I agreed with most everything Mr Goode is saying.

It would be interesting to know if those statistics are based off of current loans still in existence or original mortgage originations. The huge difference would be that in the case of the latter, many of these people would have already, or will sell or refinance before they reset. Sure many cannot if they are upside down of course.

"The greater problem, however, is recasts. Option ARMs allow for the choice of the size of the payment. Homedebtors can choose to pay an amortizing payment (such that their mortgage balance is reduced), an interest-only payment, or a negative-amortizing payment, where their mortgage balance increases. Recent data from Countrywide (CFC) indicates that 71% of borrowers with option ARMs are only making the minimum, negative-amortizing payment. Option ARMs have provisions such that when the mortgage balance exceeds the original mortgage by 10% to 15%, the loan converts into a fully self-amortizing loan."

Some lenders are especially lenient when it comes to getting paid on their option ARMs while earning the high back-end effective rates. Also the loans do not all recast to fully amortized payments when they reach their 110%-125% threshold. Some loans allow for the payment of the interest portion on the capped threshold loan amount. (It doesn't go over this amount BTW) Sure the interest only payment is higher than the negAm payment and it could be a lot higher if the effective fully indexed rate increases, as it changes monthly. So in the end it is a problem but not as bad as fully amortized payments, though it probably would still lead to default.

DISCLOSURE: California Mortgage Broker, short with QID, SKF and SRS, long with GLD, TIP, PWZ and foreign currency.

]]> Wed, 23 Apr 2008 23:31:58 -0400
If my suspicion is correct, it would make a large part of this article worthless though I agreed with most everything Mr Goode is saying.

It would be interesting to know if those statistics are based off of current loans still in existence or original mortgage originations. The huge difference would be that in the case of the latter, many of these people would have already, or will sell or refinance before they reset. Sure many cannot if they are upside down of course.

"The greater problem, however, is recasts. Option ARMs allow for the choice of the size of the payment. Homedebtors can choose to pay an amortizing payment (such that their mortgage balance is reduced), an interest-only payment, or a negative-amortizing payment, where their mortgage balance increases. Recent data from Countrywide (CFC) indicates that 71% of borrowers with option ARMs are only making the minimum, negative-amortizing payment. Option ARMs have provisions such that when the mortgage balance exceeds the original mortgage by 10% to 15%, the loan converts into a fully self-amortizing loan."

Some lenders are especially lenient when it comes to getting paid on their option ARMs while earning the high back-end effective rates. Also the loans do not all recast to fully amortized payments when they reach their 110%-125% threshold. Some loans allow for the payment of the interest portion on the capped threshold loan amount. (It doesn't go over this amount BTW) Sure the interest only payment is higher than the negAm payment and it could be a lot higher if the effective fully indexed rate increases, as it changes monthly. So in the end it is a problem but not as bad as fully amortized payments, though it probably would still lead to default.

DISCLOSURE: California Mortgage Broker, short with QID, SKF and SRS, long with GLD, TIP, PWZ and foreign currency.

]]> http://seekingalpha.com/article/72612-mortgage-resets-subprime-may-be-ending-option-arms-have-just-begun?source=feed#comment-153710 153710 Sun, 20 Apr 2008 15:53:50 -0400 http://seekingalpha.com/article/72586-talking-fixed-income-investing-with-ron-ryan?source=feed#comment-152039 152039
Any recommendations on how to get educated on the whole bond topic? Maybe a class at a local community college or something?

My TIPs ETF keeps going down at the same time as reports come out showing increases in inflation. What gives?]]> Thu, 17 Apr 2008 03:21:23 -0400
Any recommendations on how to get educated on the whole bond topic? Maybe a class at a local community college or something?

My TIPs ETF keeps going down at the same time as reports come out showing increases in inflation. What gives?]]> http://seekingalpha.com/article/71640-let-thornburg-s-demise-be-a-lesson-to-you?source=feed#comment-148025 148025
They need to keep originating to make profits.

They do this with a warehouse line, sort of (ultra simple explanation) like the way you can use your home equity line. They originate as many as possible in a month and then repackage them and sell them to an investor for a profit, cash-in-hand. This then clears their line to do all over again.

The loans they sell are good jumbo loans to strong borrowers who would not likely default because they are higher net worth clients.

This is a very simple explanation for how it works. I'm leaving a lot out because the point is they need to originate loans so they may repackage and sell them to investors such as pension funds etc. This is what they do every month to make a profit.

They are not a middleman. LOL They even service the loans they choose. In addition they have a niche market and customer profile that not many other lenders have or can compete with.

GOLDSTONE: Our funding cost is not based upon the nine-and-a-quarter percent. Our funding cost is based upon the securitization execution we can get in the marketplace; and that’s somewhere in the neighborhood of six percent, give or take a little bit in today’s environment. And, so, consequently, as we clear out our loan pipeline, you’ll begin to see our mortgage rates come back down as we begin to encourage business as opposed to what we’ve been doing over the last month, which has been to discourage business.

Disclosure: Mortgage Broker, Long TMA]]> Wed, 09 Apr 2008 22:52:43 -0400
They need to keep originating to make profits.

They do this with a warehouse line, sort of (ultra simple explanation) like the way you can use your home equity line. They originate as many as possible in a month and then repackage them and sell them to an investor for a profit, cash-in-hand. This then clears their line to do all over again.

The loans they sell are good jumbo loans to strong borrowers who would not likely default because they are higher net worth clients.

This is a very simple explanation for how it works. I'm leaving a lot out because the point is they need to originate loans so they may repackage and sell them to investors such as pension funds etc. This is what they do every month to make a profit.

They are not a middleman. LOL They even service the loans they choose. In addition they have a niche market and customer profile that not many other lenders have or can compete with.

GOLDSTONE: Our funding cost is not based upon the nine-and-a-quarter percent. Our funding cost is based upon the securitization execution we can get in the marketplace; and that’s somewhere in the neighborhood of six percent, give or take a little bit in today’s environment. And, so, consequently, as we clear out our loan pipeline, you’ll begin to see our mortgage rates come back down as we begin to encourage business as opposed to what we’ve been doing over the last month, which has been to discourage business.

Disclosure: Mortgage Broker, Long TMA]]> http://seekingalpha.com/article/71756-signs-that-foreclosures-may-be-peaking?source=feed#comment-148012 148012 Wed, 09 Apr 2008 22:12:14 -0400 http://seekingalpha.com/article/71752-inverse-oil-etf-plunges-26-what-gives?source=feed#comment-148009 148009 Wed, 09 Apr 2008 22:04:32 -0400 http://seekingalpha.com/article/71752-inverse-oil-etf-plunges-26-what-gives?source=feed#comment-148007 148007 www.etfconnect.com/sel...

]]> Wed, 09 Apr 2008 22:03:25 -0400 www.etfconnect.com/sel...

]]> http://seekingalpha.com/article/71265-the-credit-bubble-deregulation-gone-wild?source=feed#comment-146764 146764 ]]> Mon, 07 Apr 2008 23:11:38 -0400 ]]> http://seekingalpha.com/article/70786-tuesday-s-action-sign-of-a-bottom?source=feed#comment-134915 134915
Bring on the bear, and let CNBC keep pushing their bull.]]> Tue, 01 Apr 2008 21:54:28 -0400
Bring on the bear, and let CNBC keep pushing their bull.]]> http://seekingalpha.com/article/69524-15-notes-on-the-current-market?source=feed#comment-130174 130174
Is the the same SIPC insurance company as all the other failing financial institutions? Can they even pay? I have my suspicion that is one reason for the intervention last weekend of Bear Stearns.]]> Sat, 22 Mar 2008 22:16:14 -0400
Is the the same SIPC insurance company as all the other failing financial institutions? Can they even pay? I have my suspicion that is one reason for the intervention last weekend of Bear Stearns.]]> http://seekingalpha.com/article/68620-the-bailout-s-pathetic-here-s-who-to-blame?source=feed#comment-127848 127848 because they were afraid their total collapse would have triggered
SIPC Insurance to save all the investors. What if because of this
credit crisis those SIPC insurance companies couldn't pay which would
cause even greater instability and panic. ]]> Mon, 17 Mar 2008 17:09:21 -0400 because they were afraid their total collapse would have triggered
SIPC Insurance to save all the investors. What if because of this
credit crisis those SIPC insurance companies couldn't pay which would
cause even greater instability and panic. ]]> http://seekingalpha.com/article/68249-latest-bank-headache-home-equity-loans?source=feed#comment-126125 126125
I'm a little confused. Are you Hoot or Charles? Your website Lic# leads to Charles in the DRE records but Hoot Gibson has an expired License and you are advertising that you are a broker named as Hoot Gibson. Can you please explain?

www2.dre.ca.gov/Public...

License Type:
BROKER

Name:
Gibson, Hoot

Mailing Address:
PO BOX 1355
PALM SPRINGS, CA 92263
(Above address is marked unreliable in DRE database)

License ID:
00351478

Expiration Date:
08/23/97

License Status:
EXPIRED]]> Thu, 13 Mar 2008 15:56:24 -0400
I'm a little confused. Are you Hoot or Charles? Your website Lic# leads to Charles in the DRE records but Hoot Gibson has an expired License and you are advertising that you are a broker named as Hoot Gibson. Can you please explain?

www2.dre.ca.gov/Public...

License Type:
BROKER

Name:
Gibson, Hoot

Mailing Address:
PO BOX 1355
PALM SPRINGS, CA 92263
(Above address is marked unreliable in DRE database)

License ID:
00351478

Expiration Date:
08/23/97

License Status:
EXPIRED]]> http://seekingalpha.com/article/68249-latest-bank-headache-home-equity-loans?source=feed#comment-126118 126118
Are you suppose to open a new HELOC to function as an, LOL, "Interest Cancelation Account"?

The flaw I see in their designed and biased 'comparison' is that they don't compare it with someone doing a similar strategy without paying for the software and without treating their home as a checking account.

You're suppose to put all of your money that is currently earning interest, into this HELOC that is currently costing 7.5% (as an example of a rate which could easily increase 4% or more in a short time as it did from June 2004 to June 2006 and with little threat of inflation!)

With all the volitility lately I can easily see Prime going up 4% in a much shorter time that last time and making a 7.5% HELOC a 11.5% HELOC while a person whole did a consolidation loan instead of this sham would still be at their 5.5% 30-year fixed loan and breathing a sigh of relief as they watched the rate skyrocket with the threat of inflation. Just imaging if these people had a 3 or 5 year ARM or an Option ARM with a 110% balance cap! Sheesh But I digress...

Yo're suppose to put your money into this HELOC and treat it as an expense account and then pay down your 1st mortgage in large chunks so as to reduce the term and interest cost. You can easily do this without a HELOC and without a software program to tell you how much. In fact, why not do it with a no transaction fee, zero interest introductory rate credit card?

This plan makes people comfortable with using their home as a checking account and as it is painfully obvious at this time, people will use the credit to which they have easy access.


It's a thing of beauty to have the people from World Savings (now Wachovia) design such a product, as they are the kings of the NegAm loan. They conveniently omit many areas and divert attention to the largest changes that promote paying down a 1st mortgage, thereby influencing people to jump at the 'opportunity' or at least inquire. And if they do see the rouse, since they are sitting in front of you explaining it to them anyway, why not just go with your other plan, to refinance them with a different strategy.

Here's a quote from Chris George of CMG. "To ensure the program is explained accurately, CMG requires mortgage brokers to earn a certificate and not miss even one question on the test."

Two thumbs down for this product and the charlatans peddling it.

Please do respond with any error I may have stated or benefits I may have missed. I could easily be enticed to work up and post an exacting spreadsheet of a better comparison and better plan that costs nothing or less with much less risk.

In the end, this product is a great way to get people to refinance more often and communicate with their mortgage broker more often which is great for business but not a good strategy for long term client retention and not for most to reduce their debt.

JMHO

]]> Thu, 13 Mar 2008 15:39:49 -0400
Are you suppose to open a new HELOC to function as an, LOL, "Interest Cancelation Account"?

The flaw I see in their designed and biased 'comparison' is that they don't compare it with someone doing a similar strategy without paying for the software and without treating their home as a checking account.

You're suppose to put all of your money that is currently earning interest, into this HELOC that is currently costing 7.5% (as an example of a rate which could easily increase 4% or more in a short time as it did from June 2004 to June 2006 and with little threat of inflation!)

With all the volitility lately I can easily see Prime going up 4% in a much shorter time that last time and making a 7.5% HELOC a 11.5% HELOC while a person whole did a consolidation loan instead of this sham would still be at their 5.5% 30-year fixed loan and breathing a sigh of relief as they watched the rate skyrocket with the threat of inflation. Just imaging if these people had a 3 or 5 year ARM or an Option ARM with a 110% balance cap! Sheesh But I digress...

Yo're suppose to put your money into this HELOC and treat it as an expense account and then pay down your 1st mortgage in large chunks so as to reduce the term and interest cost. You can easily do this without a HELOC and without a software program to tell you how much. In fact, why not do it with a no transaction fee, zero interest introductory rate credit card?

This plan makes people comfortable with using their home as a checking account and as it is painfully obvious at this time, people will use the credit to which they have easy access.


It's a thing of beauty to have the people from World Savings (now Wachovia) design such a product, as they are the kings of the NegAm loan. They conveniently omit many areas and divert attention to the largest changes that promote paying down a 1st mortgage, thereby influencing people to jump at the 'opportunity' or at least inquire. And if they do see the rouse, since they are sitting in front of you explaining it to them anyway, why not just go with your other plan, to refinance them with a different strategy.

Here's a quote from Chris George of CMG. "To ensure the program is explained accurately, CMG requires mortgage brokers to earn a certificate and not miss even one question on the test."

Two thumbs down for this product and the charlatans peddling it.

Please do respond with any error I may have stated or benefits I may have missed. I could easily be enticed to work up and post an exacting spreadsheet of a better comparison and better plan that costs nothing or less with much less risk.

In the end, this product is a great way to get people to refinance more often and communicate with their mortgage broker more often which is great for business but not a good strategy for long term client retention and not for most to reduce their debt.

JMHO

]]> http://seekingalpha.com/article/68249-latest-bank-headache-home-equity-loans?source=feed#comment-126095 126095
I wrote this off last year and I'm now taking the time out of my day to look into it again to explain the details of my skepticism.

BBIAF]]> Thu, 13 Mar 2008 14:52:11 -0400
I wrote this off last year and I'm now taking the time out of my day to look into it again to explain the details of my skepticism.

BBIAF]]> http://seekingalpha.com/article/68249-latest-bank-headache-home-equity-loans?source=feed#comment-126092 126092
Hardly 'unequivocal'.

I got wind of this 'software' from CMG Financial in 2005 IIRC and was solicited by them about a year ago.

There is a lot of what I call 'guerrilla marketing' out there that is disguised as news.

The BBB is a paid by the company who wants to use it's log and services and just because there are no hits on it 'yet' does not mean that everything is alright. Haven't you learned anything from this whole sub-prime fiasco??

]]> Thu, 13 Mar 2008 14:45:28 -0400
Hardly 'unequivocal'.

I got wind of this 'software' from CMG Financial in 2005 IIRC and was solicited by them about a year ago.

There is a lot of what I call 'guerrilla marketing' out there that is disguised as news.

The BBB is a paid by the company who wants to use it's log and services and just because there are no hits on it 'yet' does not mean that everything is alright. Haven't you learned anything from this whole sub-prime fiasco??

]]> http://seekingalpha.com/article/68249-latest-bank-headache-home-equity-loans?source=feed#comment-126019 126019
You should have a hard look at that 'new' loan that you are advertising. I took a hard look at the numbers with my own Excel spreadsheet and it looks like just another flim flam.
]]> Thu, 13 Mar 2008 12:09:39 -0400
You should have a hard look at that 'new' loan that you are advertising. I took a hard look at the numbers with my own Excel spreadsheet and it looks like just another flim flam.
]]>