November 09, 2007

Fun Friday

Last Sunday's Mister Boffo:

Mrboffo_2

Nov 9, 2007 7:59:38 AM | Fun Friday

1 Comment

bridge loan girl

This is funny! It has been really hard on almost everyone since the economy tanked. It's great that people who were once stanch competitors are now friends. Let's hope this trend continues once the market recovers.

Posted by: bridge loan girl | December 05, 2011 at 01:50 PM

The comments to this entry are closed.

NEXT POST
Prisoners of Debt BusinessWeek has a great article regarding collection and charge off accounts post-bankruptcy (thanks to Barry Ritholtz at The Big Picture for bringing it to my attention). In a financial version of Night of the Living Dead, debts forgiven by bankruptcy courts are springing back to life to haunt consumers. Fueling these miniature horror stories is an unlikely market in which seemingly extinguished debts are avidly bought and sold. The case of Van Rathavongsa illustrates how canceled debts regain vitality. The Raleigh (N.C.) factory worker pulled himself out from beneath a mountain of bills by means of a bankruptcy proceeding that wrapped up in 2002. One of the debts the judge canceled, or "discharged," was $9,523 Rathavongsa owed to Capital One Financial (COF), the big credit-card company. But Capital One continued to report the factory worker's discharged debt to credit bureaus as a live balance, according to documents filed in U.S. Bankruptcy Court in Raleigh...To obtain the home loan, Rathavongsa eventually did what many consumers in this situation do. He gave in and paid Capital One $9,523 he no longer legally owed. The full article can be found here: Prisoners of Debt It's actually quite scary to think about some of...
PREVIOUS POST
The Week Ahead in the Capital Markets We have a world class secondary market department and they are kind enough to send out weekly updates to us sales monkeys. I like posting it as it is both a great source of technical and anecdotal information. Please let me know your thoughts! The Week Ahead in the Capital Markets - November 13, 2007 “Your eyes do not deceive you. Treasury yields plummeted last week, and mortgage rates barely budged. In fact, mortgage rates rose 0.30% relative to duration-equivalent Treasuries. The spread between mortgages and Treasuries eclipsed 2.00% for the first time in years. Back in 2002, mortgages traded 2.50% over the curve for a brief period. For much of 2004, 2005, and 2006 the spread was 1.25%. It is not a coincidence that spreads are wide today like they were in 2002 and 2003. Then, as now, the Fed was in a rate cutting mode and there was great uncertainty as to the future of interest rates. When such uncertainty exists, buyers of mortgages demand a greater relative yield to compensate for prepayment risk. Hence the wide mortgage-to-Treasury spreads. So what will it take to narrow the spread? Some certainty about interest rates. If the Fed stops cutting...

Tim Abbott

The Typepad Team

Search

Recent Comments