Real Estate Crash thread

[Benny Profane]

All of you Meridith Whitney haters out there (how could girl know what's going on, right?) should check out BofA today.
I swear, in four or five years, you are going to read about some people still squatting in their homes after seven years of non payment.

[4matic]

All of you Meridith Whitney haters out there (how could girl know what's going on, right?) should check out BofA today.
I swear, in four or five years, you are going to read about some people still squatting in their homes after seven years of non payment.

Lol.. She's been wrong about bank stocks for two years and so has your boy Roubini. Like traders care if she's female.

[Benny Profane]

House of cards. Hope you're not too long. It's all just Enron II to me.

[Missing Sock]

All of you Meridith Whitney haters out there (how could girl know what's going on, right?) should check out BofA today.
I swear, in four or five years, you are going to read about some people still squatting in their homes after seven years of non payment.

BofA?? down a whopping 1% today.......Looks like all the information was already priced into the stock. And MW will be out of the business within the next two or three years.

[Benny Profane]

Like I said, don't fight the fed. The most absurd valuations out there are the TBTF banks. If you ever saw the books (the REAL books), you would buy a gun and provisions.

[Missing Sock]

Like I said, don't fight the fed. The most absurd valuations out there are the TBTF banks. If you ever saw the books (the REAL books), you would buy a gun and provisions.

have you seen "the REAL books"?

[cramer]

All of you Meridith Whitney haters out there (how could girl know what's going on, right?) should check out BofA today.
I swear, in four or five years, you are going to read about some people still squatting in their homes after seven years of non payment.

Luckily for bofa, they are global now in the trading market thanks to that ML purchase. id watch them and their stock next year. It's heading north, not south.

[cramer]

All of you Meridith Whitney haters out there (how could girl know what's going on, right?) should check out BofA today.
I swear, in four or five years, you are going to read about some people still squatting in their homes after seven years of non payment.

hehe, ive saved this post for next year this time. Check out "BofA"....Lets check them out next year. I'll be sure to show you my 401K earnings as well when i moved my money into ti a couple years ago when they were rock bottom. Our then CEO bought and so did I. I'll add that i had stock options back in 2000 that i got at 30 bones, went to 86 bones and split. Then went back up to 65 bones because i had to sell them. You do the math. They are trading at 14 a share, valued at 20+ a share. Talking shit about our biggest bank is foolish. Especially when their stock is a bargan right now.

[cramer]

back on the real estate shit...my peer, who works for the bank, it took a good 4 months for his refi to go through. So if you refi'n with bofa, there is you expectation. He works for the bank and it took that long. ouch...

[liv2ski]

B of A was a good bank. Countrywide which the acquired was horrible and their lending practices will cost B of A dearly for sometime. The demands for billion dollar paybacks of their mtg pools is just starting in my opinion. Hopefully they off loaded most of their shit to the Germans as I have read they are loath to demand buybacks.

[yonskion]

Full disclosure I'm a B of A Senior loan officer......looks good from "Mi Vida'"
Anyone who is currently a Bank of America loan customer who is underwater in the mortgage and can't refinance out of an ARM or Higher Interest rate fixed rate loan because of value please contact me, I may be able to help.

[Art Shirk]

Full disclosure I'm a B of A Senior loan officer......looks good from "Mi Vida'"
Anyone who is currently a Bank of America loan customer who is underwater in the mortgage and can't refinance out of an ARM or Higher Interest rate fixed rate loan because of value please contact me, I may be able to help.

What state are you in?

Would love to send people your way.

[yonskion]

What state are you in?

Would love to send people your way.

I live in Oregon, but I lend in all 50 states except NY and TX
so it's more like 48 states.
I am here to help all of you and your friends, family or clients with Real Estate finance questions.

[liv2ski]

Full disclosure I'm a B of A Senior loan officer......looks good from "Mi Vida'"
Anyone who is currently a Bank of America loan customer who is underwater in the mortgage and can't refinance out of an ARM or Higher Interest rate fixed rate loan because of value please contact me, I may be able to help.

Will you go over 125% LTV?

[liv2ski]

Case Shiller Confirms Housing Double Dip Accelerates, Misses Estimates For Rebound, Snow Not Blamed

Something funny happened on the way to the "wealth effect": we call it affectionately, the "poverty effect." At least for those who have homes. The November Case Shiller index confirmed that the double dip in housing is accelerating, with the composite index posting its 5 sequential decline. The 20 city composite came at -1.59% Y/Y on expectations of a rebound to 1.7%. Perhaps the Chaircreature should finally consider lowering those mortgage rates instead of focusing so much on the Russell 2000. What we are amazed by is that all that abundant California snow was not blamed on this one particular negative surprise.

http://www.zerohedge.com/article/cas...snow-not-blame

[liv2ski]

Full disclosure I'm a B of A Senior loan officer......looks good from "Mi Vida'"

Insurance Companies Sue Bank Of America Over "Massive Mortgage Fraud", Find 91% Of Securitized Loans Are Misrepresented

"To wit, from the lawsuit: "In carrying out its review of the approximately 19,000 Countrywide loan files, MBIA found that 91% of the defaulted or delinquent loans in those securitizations contained material deviations from Countrywide’s underwriting guidelines".

http://www.zerohedge.com/article/ins...tized-loans-ar

[liv2ski]

Fuckin B of A in the news today:

"And so the latest shoe to drop in robosigning falls. Diana Olick reports that BofA has stopped its issuing notices of default in non-judicial states, such as the all critical California and Arizona, which explains the dramatic drop off in NODs in January. Previously explained by Koolaid guzzlers as an indication of economic improvement, it turns out this was merely yet more fraud being perpetrated by the big banks, which are now trying to cover up their slime trail. According to Bank of America's Dan Frahm, "We did conduct a review of the Notice of Default process. As a result we stopped the NOD process in non-judicial states." And so the double dip just got far worse".
http://www.zerohedge.com/article/ban...udicial-states

[yonskion]

Ok... take it easy my personal creditability and ability to work is not directly tied to the purchase of a fraudulent loan portfolio. Everyone within this inclusive meritocracy is active in doing the right thing and moving forward with a better outcome for all. Please don’t personally insult me for the actions of a few… Your frustration and personal bias against B of A should not be directed at me personally. I am here to help which is why I disclosed my position and am willing to help anyone I can with the outstanding products I represent. mi vida is bueno and business is brisk
Have Fun Today

[stompinlines]

Have Fun Today

I think fun to Liv2ski is having a sweaty diarrhea.

[liv2ski]

Ok... take it easy my personal creditability and ability to work is not directly tied to the purchase of a fraudulent loan portfolio. Everyone within this inclusive meritocracy is active in doing the right thing and moving forward with a better outcome for all. Please don’t personally insult me for the actions of a few… Your frustration and personal bias against B of A should not be directed at me personally. I am here to help which is why I disclosed my position and am willing to help anyone I can with the outstanding products I represent. mi vida is bueno and business is brisk
Have Fun Today

Take it easy pal. I never attacked you and in fact said further up the thread:
"B of A was a good bank. Countrywide which they acquired was horrible and their lending practices will cost B of A dearly for sometime. The demands for billion dollar paybacks of their mtg pools is just starting in my opinion. Hopefully they off loaded most of their shit to the Germans as I have read they are loath to demand buybacks".
And I asked if you would go over 125% ltv, with no reply? So don't be thin skinned because your employer is in the news today

I think fun to Liv2ski is having a sweaty diarrhea.

I have been known to over indulge in hot ass mexican food and beer

[yonskion]

I read ML-Implode and zerohedge daily as well..... our MHA product has different valuation model for 125%

[Benny Profane]

I read ML-Implode and zerohedge daily as well..... our MHA product has different valuation model for 125%

Say what?

you can still get a deal like that? madone

[yonskion]

Don't worry MHA is a "fix it" program not a purchase program

[Benny Profane]

Don't worry MHA is a "fix it" program not a purchase program

What's that mean?

[yonskion]

long story short http://makinghomeaffordable.gov/ this program is set to expire this summer.... rumors are buzzing on new programs that may include some "principal reduction"