IndyMac, Loan Modifications, Short Sales and Foreclosures–Way More Complicated than it Seems
IndyMac, Loan Modifications, Short Sales and Foreclosures–Way more complicated than it seems and maybe more complicated than it should be…
Two recent video blogcasts from a mortage industry source are taking issue with “deals” made between some Banks and the FDIC. The video implys that there may be some individuals with “influence” involved and that huge profits stand to be made subsidized, by the American Tax Payer… You and me.
This information has been getting quite a bit of attention within the industry. The first video caught enought attention that the FDIC contacted the “ThinkBigWorkSmall” guys to rebut some of the statements made (so they got someones attention).
Orginal IndyMac Video and FDIC Rebuttal
FDIC Responds to TBWS Indymac Video. 02.16.10
The format of the presentation has put some people off (loud guys); but listen to the message. I’d be really interested to hear opinions about this.
- What is a reasonable profit for a reasonable risk (in other words, by taking on the potential for loss, is the bank “entitled” to whatever profits they can get, no matter how they get them?
- When the bank purchased the loans at a discount, regardless of default/non-default, was that all the profit to which they were entitiled (interest, servicing fee)?
- Have the ”deals” made in bank “bail outs” created a banking environment that prevents “good business” from being worth doing?
- Do the American people end up financing the bank bail out over and over again?
- Do the entities in the banking industry (and their potential “friends” in high places, really want to fix the economy?
- Are some of the “cures” worse than the “disease”?
- Do videos like this hurt or harm the potential for the issue to rise to the forefront and be addressed or does the mode of delivery create a credibility gap?
- What do you think?
Additional links that may be useful in wading through–credibility of the sources to be determined by you.
Please note: comments made on the TBWS site are not necessarily mine and are not monitored by me. Comments to this blogsite are monitored for appropriate content prior to posting.
« Corvallis, Oregon Real Estate Market: Over or Under Valued? | Home | Statistics, the Media and Real Estate | The problems with housing market data: What does it all really mean? »
Equal Housing Opportunity. Each Office Is Independently Owned and Operated.
Comments are closed.