Tony Rand

Survey: Downey Financial Foreclosures Are Skyrocketing

If Downey fails...it will be a failure of the federal regulators.

Downey Posts Terrible 2Q - As Predicted

DSL's problems should be of no surprise to anyone. Back in the Q4 of 2006, it was estimated by several analysts that DSL's liquidity would fall short of maintaining reserve requirements. If a portfolio lender has such a high concentration of negative amortizing loans on its books, how can it (and its shareholders) expect to fully survive a market correction like we've never seen before? Greed and poor disclosures, when added to the current market conditions will likely make DSL attractive to WM, however, they should take a taste of DSL first -- they might find them to be too bitter.