Category: Education, SubPrime | 
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In the summer of 2005, sub-prime mortgage lending was at its peak. Rates were relatively low and lending guidelines were relatively loose.
At the time, the “standard” sub-prime mortgage product was the 3/27 ARM.
The 3/27 had a few basic traits:
1. A fixed, 3-year “starter rate”
2. Every six months thereafter, the mortgage rate changed
3. The formula […]
Category: Buzz, SubPrime | Leave a Comment
The media has a way of shaping our thoughts, and our imagination. If you listen to the news long enough you will think we are headed for living in a cave. Subprime, Credit crunch, housing bubble, exotic-ARM, Jumbo, write down, blah, blah, blah.
Buzzwords are all the rage in the media and […]
Category: Big Boss Man, SubPrime | Leave a Comment
What really happened with subprime? Why does my mom ask me every week, “Are you a bad subprimer mortgage person?” The sad part is, that in 2005, someone with a 560 FICO was getting 100% financing on a $400,000 house without a job. “Bad subprimer mortgage persons” would simple make a job up out of […]
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