The Mortgage Market Never Got Fixed After 2008. Now It’s Breaking Again.

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The mortgage market looks in many ways the same as it did before the financial crisis. Many mortgage companies aren’t built to handle an economic collapse or help their customers through it.

Many mortgage companies are nonbanks that don’t have deposits or other business lines to cushion them amid the coronavirus pandemic

As big banks have refocused their mortgage operations on wealthier borrowers, nonbanks have stepped into the void, often representing the only path to a mortgage for buyers of lesser means. Homes in Leander, Texas.

 

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Americans are not ready for disasters....

Standard mortgage is 30 years. Anything can happen in 30 years. Lenders should be conservative when it comes to lending. Also, I never understood offering 30 year mortgages to people who are older than 40. Are lenders expecting people to work till 70 to pay the mortgages?

I wonder how many homes will end up in foreclosure? They aren't planning ahead at all.

During the financial crisis there was a lot of talk and programs to assist homeowners...of course most did little or nothing...most of the big banks just built up barrier after barrier to reduce the programs...

Sure 👌👌👌

Again. Same song (as ‘08), different verse.

A loan is a loan is a loan is a .......

Never fixed? Great what would you do? Require 20%. Reestablish the S&L business model? Demand that only 30% of take home pay can be used to pay mortgages? What did someone say 'Home ownership (mortgage) without equity is renting with debt.'

Help..... might as well pray to Satan. They drain your soul.

BANKS WAS GIVEN BILLIONS F..K THEM IF THEY DIDN'T PREPARE FOR THE FUTURE INSTEAD GAVE THAT MONEY TO EXECUTIVE I REPEAT F..K THEM

SUCKS 2 BE U

~$550bn investment-bonds go to junk in November. That plus tsunami of delinquency, broken processes, consumer distress aint going to end well. The counter argument is the Fed...who will win come Christmas?

I'm trying to get a mortgage. but they wont let me borrow the damn money.

omfg look you... (Oh wait...You...Can't...) *cry*

Few companies are.

Well, it was never fixed so...

If you click do you get more pics of her?

mtaibbi Gee, I wonder why the Fed is now Covid-gobbling up MBS and mortgages themselves?

mtaibbi If they die, they die. Not bailing them out again.

VerminSupreme Just like much of our freedoms won’t come back after this lockdown. People, how much of this shit are we gonna put up with?

Isn’t the difficulty of lump sum payment the reason installment option exists. What’s the essence in telling borrower to miss 3 months then pay 4 month lump sum thereafter?

And repub folks will continue to be in denial

They didn't want it 'Fixed' the only new requirement was banks be able to pass some stupid financial 'Stress Test' .. No new contingency laws or means to help protect citizens .. I wonder who was president in 2009 when the recession hit? Hmm? .. I wonder ..

Thanks to republicans.

Become a homeless not an option, last time people could think that was an opportunity get a 🏡, because the market fools everybody's illusions, this crisis is more real, people can not pay 💰, no job, no home.

Even if somebody is able to bounce back on their feet, I cannot imagine they will be thinking about buying a house

Wow you people will enjoy it.Saving no person and losing your money.

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