HomeFairfax General ForumArrest/Ticket SearchWiki newPictures/VideosChatArticlesLinksAbout
Fairfax County General :  Fairfax Underground fairfax underground logo
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: Here we go again.....Subprime BS ()
Date: September 27, 2019 06:59PM

When the SHTF, the tax payers will be put on the hook for this...

Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds

A few unfortunately-placed hurricanes could leave US taxpayers shouldering billions of dollars in worthless mortgages on homes in natural disaster-prone areas, while the banks that originally underwrote those mortgages get off scott-free. In a scenario that might sound familiar to readers who remember the run-up to the financial crisis, new research has found that Fannie Mae and Freddie Mac have been buying mortgages on homes in disaster-prone areas and packaging them up into securities, without charging a premium that accurately reflects long-term disaster risks.

The New York Times reports that the new findings "echo the subprime lending crisis of 2008, when unexpected drops in home values cascaded through the economy and triggered recession." The only difference is that, this time around, the loans will have a 0% chance of rebounding, since the homes might be literally underwater

One professor said the mortgage market's exposure to natural disasters could be massive - possibly even as large as the losses from the subprime crisis.

https://www.zerohedge.com/markets/sound-familiar-banks-are-saddling-fannie-freddie-risky-mortgages-study-finds

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: Get serious... ()
Date: September 27, 2019 08:06PM

If you believe ANYTHING from ZeroHedge, you are doing it wrong.

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: Get smarter... ()
Date: September 27, 2019 08:11PM

Get serious... Wrote:
-------------------------------------------------------
> If you believe ANYTHING from ZeroHedge, you are
> doing it wrong.


Zerohedge is just covering the NYT story you stupid shit:


https://www.nytimes.com/2019/09/27/climate/mortgage-climate-risk.html

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: Get seriots... ()
Date: September 27, 2019 08:30PM

So cite the NYT, asshole. Meanwhile, 2002-2007 was nothing like the past few years. Any attempt to equate them is quintessentially dumb.

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: Seriots? ()
Date: September 27, 2019 08:58PM

Get seriots... Wrote:
-------------------------------------------------------
> So cite the NYT, asshole. Meanwhile, 2002-2007
> was nothing like the past few years. Any attempt
> to equate them is quintessentially dumb.


The link is right there stupid. lol

If you want to complain about comparing the two, then write a letter to the editor @ NYT. Or you could write the authors of the NBER paper that its reporting directly.

http://www.ouazad.com/resources/paper_kahn_ouazad.pdf

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: Thomas Dilorenzo ()
Date: September 27, 2019 09:12PM

There’s no comparison. Get used to it.

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: OP is a dipshit ()
Date: September 27, 2019 09:29PM

The housing bubble and tech bubble are all too fresh in our minds, the next bubble will not be related

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: Tell somebody who cares grandpa ()
Date: September 27, 2019 09:32PM

Thomas Dilorenzo Wrote:
-------------------------------------------------------
> There’s no comparison. Get used to it.


https://help.nytimes.com/hc/en-us/articles/115014925288-How-to-submit-a-letter-to-the-editor

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: DCURBANCUNTZ.COM ()
Date: September 27, 2019 11:31PM

Get seriots... Wrote:
-------------------------------------------------------
> So cite the NYT, asshole. Meanwhile, 2002-2007
> was nothing like the past few years. Any attempt
> to equate them is quintessentially dumb.


Hey fuckface, you don't know WTF you're talking about.

Before barking orders to others, learn to read.

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: GlicerinEBAG ()
Date: December 08, 2020 03:17PM

Risky mortgages is probably the best source of income for the banks. At least that is my opinion. I mean, let's be objective, who are the most people who are taking the mortgages? Young people, that don't really have a lot of money, however they want to live by their own. These people are not really experienced, so they don't really understand all these risks. That is why, I am trying to be very cautious before getting into such a ''deal''. Before I took the mortgage, I actually called for the services of a Mortgage Advice Middlesbrough. They helped me alot, and I highly recommend you to use their services in case you are looking for a mortgage.



Edited 1 time(s). Last edit at 12/11/2020 12:41PM by GlicerinEBAG.

Options: ReplyQuote
Re: Sound Familiar? Banks Are Saddling Fannie & Freddie With Risky Mortgages, Study Finds
Posted by: Liquidat1on ()
Date: December 15, 2020 11:09AM

GlicerinEBAG Wrote:
-------------------------------------------------------
> Risky mortgages is probably the best source of
> income for the banks. At least that is my opinion.
> I mean, let's be objective, who are the most
> people who are taking the mortgages? Young people,
> that don't really have a lot of money, however
> they want to live by their own. These people are
> not really experienced, so they don't really
> understand all these risks. That is why, I am
> trying to be very cautious before getting into
> such a ''deal''. Before I took the mortgage, I
> actually called for the services of a Mortgage Advice Middlesbrough. They helped me alot,
> and I highly recommend you to use their services
> in case you are looking for a mortgage.

Well, I have to agree with you dude



Edited 1 time(s). Last edit at 12/15/2020 11:14AM by Liquidat1on.

Options: ReplyQuote


Your Name: 
Your Email (Optional): 
Subject: 
Attach a file
  • No file can be larger than 75 MB
  • All files together cannot be larger than 300 MB
  • 30 more file(s) can be attached to this message
Spam prevention:
Please, enter the code that you see below in the input field. This is for blocking bots that try to post this form automatically.
  ******   ********   ******    **    **  **     ** 
 **    **  **        **    **   **   **   ***   *** 
 **        **        **         **  **    **** **** 
 **        ******    **   ****  *****     ** *** ** 
 **        **        **    **   **  **    **     ** 
 **    **  **        **    **   **   **   **     ** 
  ******   **         ******    **    **  **     ** 
This forum powered by Phorum.