posted by Bill Coppedge

How Subprime Works - Maybe you have seen this … originally a PowerPoint presentation and is very funny.  Be warned … it does contains profanity, so if that offends you, do not go here.  -  This takes a while to load. Five people sent me emails about this - Thanks to all of you.
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Losses stalk Royal Bank of Scotland - RBS has been upbeat about its exposure to subprime losses so far. But new problems may be exposed when it reports earnings. -  Fortune  Money CNN

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has the lists! - Banks Denying Approval on Most Miami Condo Mortgages - has links to BankUnited non-permissible condo list and WaMu eligibility list (2137 pages) - ClickBroker 

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From Foreclosure Signs to Auto Repo Lots - Easy Credit Gives Way to High Consumer Debt and Defaults - Washington Post 

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Financials: Insiders Buying on Consistent Basis - Todd Sullivan - seeking alpha

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Economic Stimulus Bill & Reverse Mortgages -  John Yedinak wieghs in on the bill not including HECM loans -   Reverse Mortgage Daily

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Some Builders Offer Buyers Price Guarantees in California - OC Register

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1.  Going broke?  Blame your primitive brain - Your brain’s pleasure center can lead you to financial ruin. Here’s how to keep it under control.  MSN     

2.  For investors, excitement is an enemy.  MSN

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55+ Market Now 21 Percent of New Home Buyers - Older buyers also purchase almost 25 percent of all new custom homes. - Builder Online

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Wachovia: Lower Rates Working - Todd Sullivan’s - ValuePlays  

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SIFMA To Update GSE Guidelines - The TBA market facilitates the forward trading of MBS issued by GSEs and Ginnie Mae by creating parameters under which mortgage pools can be considered … - Mortgageorb
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CA: Housing Bottom Nowhere in Sight - Michael Shedlock -  globaleconomicanalysis
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1.  Falling House Prices Force Tighter Lending Standards - Dean Baker - CEPR.net
2.  Own to Rent? Yes We Can! - Dean Baker - CEPR.net

thanks Ira Artman
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Fair Isaac retooling its damaged FICO tool - Minneapolis Star Tribune

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Bill Fleckenstein: It’s too early to be bullish - If you listen to some prominent market professionals, you might think the worst is over. But the credit/housing bubble is a far bigger mess than the tech-stock bust.  - MSN
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LFKAJ* Update (Loans Formerly Known As Jumbo) - Tanta does it again! -  Calculated Risk