The linked article from the Wall Street Journal shows why we have this mess. The thing I cannot figure is why the investors in the original mortgage sale didn't do their due diligence when they purchased this loan from the originator. This should be a case of fraudulant conveyance.

Read the article and give your opinion.

 

 
Posted by Spencer Hill #1 Financial Planner -- South Carolina on 01/02/2009 09:49 PM   Comments (2)   Sub Prime in the ActiveRain Channel   mortgage  
Post is included in group: Mortgage Financing, Market Data & Forecast
Post is included in group: 'JACKED!!!!!
Post is included in group: All About Mortgages/Mortgage Networking

2 Comments on The Reason for this Sub-Prime Mess

JAN
02
327,859 Points Outside Blog

Hi Spencer;

Thank you for the link to a very good article. I thank you for sharing.
9:57pm • #1
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Hi Spencer,

interesting article.  Scary predicament and unbelievable fraudulent cycles.  Hopefully, it will get taken care of this year, so our country can rebuild itself from a financial disaster!

                                ;>)
10:12pm • #2

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Spencer Hill #1 Financial Planner -- South Carolina

Kingstree, SC

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