Now Here is a Bright Idea – ING to Introduce ‘Never Ending’ Mortgage

Source: National Mortgage News Homebuyers in Australia soon can choose what’s being called a “never-ending” mortgage in an attempt to overcome that nation’s affordability crisis. According to a report in The Sunday Telegraph, ING Direct, the nation’s fifth largest residential funder, will originate loans that have no fixed term and no requirement to repay any … Read more

Securitized Assets – Excellent Presentaton on Financial Management of Structured Products

Financial Management of Structured Products โดยสมาคมนักวิเคราะหห์หลักทรัพย ์ สมาคมตลาดตราสารหนี้ไทย และ สำานักบริหารหนี้สาธารณะ กระทรวงการคลัง Bangkok Convention Centre at CentralWorld 1. Introduction to Securitization 2. Introduction to CDOs 3. Credit Derivatives • Definition • Credit Default Swap: A Building Block of Synthetic CDO • ISDA Credit Derivatives Definition 4. CDO Structures • Balance Sheet CDO, STCDO, CDO^2, ABSCDO, Hybrid … Read more

Soldier in Iraq Loses Paid Off Home Over $800 Debt

MotherJones Capt. Michael Clauer’s homeowners’ association foreclosed on his family’s $300,000 house and sold it for $3,500. — By Nick Baumann Michael Clauer is a captain in the Army Reserve who commanded over 100 soldiers in Iraq. But while he was fighting for his country, a different kind of battle was brewing on the home … Read more

Teaching Better Fraud Methods? – An Assignment or a Formalization or a Memorialzation?

From: Lynn Szymoniak The standard language in most of the mortgage assignments being signed by employees of Lender Processing Services (most recently, Kathy Smith, Joseph Kaminsky) has changed in one significant respect. The effective date of the transfer from grantor to grantee is now not stated as a specific date. Instead, we have the following: … Read more

Ohio Attorney General vs AHMSI American Home Mortgage Servicing Inc

Random Repost Blast from the Past. Going to start off each day with a random repost from the archives… Ohio Attorney General Richard Cordray today filed a lawsuit against American Home Mortgage Servicing Inc. (AHMSI), a Texas-based company servicing more than 12,000 subprime and prime mortgage loans in Ohio. The lawsuit alleges numerous violations of … Read more