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Subprime Mortgage Market Fallout and "Six-inch hooker heels." What?

Anyone else see the quote of the day from Inman News? "Six-inch hooker heels" is how Bill Gross of PIMCO, the world's largest bond fund describes the attractiveness of mortgage-backed securities (MBS) and collateralized debt obligations (CDOs) to the ratings agencies.

Actually, the whole article is pretty good. Click here for some of my own views on the subprime market and how it will impact our housing market.

Posted by Todd Waller | Ann Arbor Real Estate on 06/27/2007 05:00 PM

Comments (3)

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3 Comments on Subprime Mortgage Market Fallout and "Six-inch hooker heels." What?

JUN

2007

Hi Todd -- About a year ago I began re-reading every thing I could on FHA loans because FHA is the new sub prime market. Out here in Honolulu FHA will go to a max loan of $544,185. I have been educating my Realtors on FHA. Every one is still leery of the FHA appraisal even though FHA swears they have changed their ways. We all need to edcuate the AR Community on FHA products

your "six inch hooker heels" realed me in...

Bruce - Thanks for the note. You are bang on in your assessment about FHA! Share with AR what you find that might not be too well known.

Jennifer - So my, audacious headline worked! Wonder how I can use this to promote an open house or one of our listings....."Enter to win...." just doesn't seem right for some reason!

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