Inspired by Brian Brady today, I can't get this picture out of my head. 

The secondary mortgage market is selling off like chickens, mostly in parts. 

I'd like $20,000,000 of "interest only, please".

I'd like $130,000,000 of principal only, please

I have a few over for Happy Hour Friday, give me a package of "mortgage servicing for 1,000, please".

SPECIAL TODAY - $40,000,000 90% loans offered for $37,500,000.  Purchaser is free to repackage and resell.  Notice:  NO Government loans included.   TODAY ONLY ! ! ! 

CourtesY:  Homefinders.com

 

5 Comments on WALL STREET WANTS TO BUY LOANS LIKE CHICKEN PARTS

Lenn...that was pretty funny...you have the humor like my dad did...I wonder if you are poker faced while thinking this stuff up but laughing it up in your head! And funny...but sad and true.

06/13/2007 11:54 AM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


Lenn- and we wonder why the mortgage market is so screwed up.. Wall St  makes it easy to play money games.. which is fine as long as they don't expect he tax payer to bail them out when things go south..

 .. 

06/13/2007 01:28 PM by Manhattan Beach CA/ e-PRO..... Kaye Thomas... (Real Estate West)


Lenn: Hmmmm...NOPE, I think I'll pass on the parts procurement! You make the best graphics, though.

Jay 

06/13/2007 07:51 PM by Jay Merton & Medford Ambrose, the Codgers (Retired Handymen)


This is much closer to the truth than it is satirical.  Pools used to be sold EXACTLY the way Lenn described.

11/18/2007 11:16 AM by America's #1 Mortgage Broker


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Real Estate Brokerage: Lenn Harley, Homefinders.com, MD & VA Real Estate
Lenn Harley
Rockville, MD
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Lenn Harley, Homefinders.com, MD & VA Real Estate

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