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 5/10 Good --- seekingalpha.com http://seekingalpha.com/symbol/qqqq.xml
| 'QQQQ' Tag RSS Syndication from SeekingAlpha.com ... |
Monday, May 05, 2008 --- 122 days ago http://seekingalpha.com/article/75602-why-did-the-mortgage-market-go-out-of-cont
| The mortgage market used to
be a segregated, regional, illiquid and low margin but simple business.
Local banks, acted as originators, and used to lend money to home buyers, hold
the titles of their houses as collateral, and profit from the spread
between higher mortgage rate received vs. lower interest rate paid to
depositors.
In the good old days, mortgage
lending officers were more careful to review and approve mortgages from
homeowners. They evaluated the financial situation of mortgage applicants
carefully on things such as household income, job security, total debt,
net worth, and monthly obligations. Banks were more stringent in their
lending practices, kept a close eye for local and regional real estate trends,
and ensured enough cushion if there was an unexpected downturn. Complete Story » ... |
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