What the rate of other home loans default rate fuze in 2014 they e at 36%
Also as a matter of fact they are not the lowest default rate that honor belongs toVA loans because they do something FHA does not do and that is a residual income test,basically they look at you financial situation and see ifyou can actually afford the loan. FHA does not.

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When I am stuck and need to figure something out I always remember the Immortal words of Socrates when he said:"I just drank what?"

If you really care about this issue, please, please read the FHA article in the front page of today's WSJ. Ironically, it was just featured and has hard data. You can make your own determination.

It is Friday night, and I am not digging into 2009 data to make a point. Third period about to start.

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Hawaii (fuck) You

Yeah, Nas. Answer that.

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Good people drink good beer - Hunter S. Thompson

<º)))><

Waiting for the time when I can finally say
That this has all been wonderful, but now I'm on my way

Why in the world would anyone read that when minds are made up already that all bad things are due to Bush and now Trump? There is a black hole of anything in between.

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Elections have consequences.

It is 2.3%. I just looked at Dennis initial thoughts and he's wrong too.

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Be well

GO BEARS!!!

Nas, nothing personal but as they are really into all these numbers for their work everyday I will go with Dennis and Leash's numbers. You might have a little angle trying to find them. Its ok I am the same.

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Elections have consequences.

The housing market crash happened under Bush. Are we supposed to blame Barry for that?

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Good people drink good beer - Hunter S. Thompson

<º)))><

Waiting for the time when I can finally say
That this has all been wonderful, but now I'm on my way

That's fine. I actually did this for a living (and did it really well) so I may have a little knowledge about the industry. I still play around with properties so I may still have a clue about what's going on with mortgages.

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Be well

GO BEARS!!!

PM, it's actually my specialty as I have been in charge of financial instiutions since 2004. I've met with the top managements' of Fannie Mae, MGIC and many other large companies in the home mortgage space. I even worked in mortgage brokering during grad school. I know the entire Fannie underwriting guidebook and Desktop underwriter. I did hundreds of FHA loans. Most here probably don't even know the difference between a conventional and non-conforming loan, how MI works, and loan securitization.

I could give you the top 20 reasons for why the subprime crisis occurred, but I don't have the energy tonight.

It starts with the FHLB system and moves down from there.

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Hawaii (fuck) You

W2's or it didn't happen .

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Proud member of the white guy grievance committee

It aint the six minutes. Its what happens in those six minutes.

Well then Nas might know! We can argue about it over beers. Ever do a pick a pay loan? How about piggy backs?

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Hawaii (fuck) You

I gave FF the choice of my W2 or paystub. He chose paystub, but it was my second to last one...so the YTD were close to a W2.

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Hawaii (fuck) You

Did you read it?

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Be well

GO BEARS!!!

I'm not drinking and I would like to believe I'm a lot smarter even when I drunk.

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Be well

GO BEARS!!!

This is why you are my man under my administration.... Jorr has fun and horses handled. Seriously, it is amazing to me on this board how few are able to accept their lack of expertise on any one issue. Everyone is shouting all about this or that... In all likelihood you either know this or that.

But don't worry user <thisdumbscreenname> will be along to fight for 10 pages about <whateverthefuck>.

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Elections have consequences.

Why are you picking on Chas?

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Good people drink good beer - Hunter S. Thompson

<º)))><

Waiting for the time when I can finally say
That this has all been wonderful, but now I'm on my way

Yes. I got into the field doing exclusively government loans. VA loans were my niche for a while because most people didn't understand them and hated doing them. When the market took off I stopped caring about government loans because they always took longer to close anyway. I understood the products so well that if you put an adult with a pulse in front of me I could get them a loan. The Option Arm was the go to loan for a while because of the way property values were increasing. It allowed MANY to afford more and still be able to sell in 3-5 years for a nice profit.

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Be well

GO BEARS!!!

I know Peoria Matt isn't that original but do you have to get personal?

Well anyone who was here prior to 2008 saw me post a lot about this stuff. Hell some even tapped me to do a loan for them and others reached out to me whenever they had questions. This isn't something that I read an article on and I decided I was an expert because of that. This is hundreds of loans and years of experience in several areas of the industry that lead me to post what I have.

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Be well

GO BEARS!!!

He isn't starting until Monday.

Lay off

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Nas caused the financial crisis.

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Reality is your friend, not your enemy. -- Seacrest

Good point.

Mods, please delete.

BAHAHAHAHAHA!

Hey chastorian, do you know what a central tenet (no, not your relationship to your Floridian slumlord) of Capitalism is? Its that people lend at their own fucking risk. There is no law and no moral imperative to pay back a loan. If the financiers are dumb enough to loan it, they risk the consequences. But yeah, THE FUCKING JANITOR WHO WANTED HIS KIDS TO HAVE SOME PRIDE IN THEIR HOME IS TO BLAME, not the completely over-leveraged banking institutions with 20-something MBA's who are gonna take your (our) tax dollars and masturbate and roll around in them while the authorities evict those scum bag blue collar workers who just nodded as the empty-headed lending zombies told them about the AMERICAN DREAM!

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I never screwed anyone. I'm still friendly with some of my former clients and there was enough money to be made that I could say no to some people who I knew were heading towards foreclosure because they kept taking money out on their home.

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Be well

GO BEARS!!!

I have a feeling you , Leash and myself would be just fine at a Pirates (or any other) game.

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Elections have consequences.

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Elections have consequences.

Actually Nas, you are in Pittmike, LLC if you like. We have to have a drink and cigar first together as an interview. We can use a guy like you.

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Elections have consequences.

Chas is getting passed around like a doobie.

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Good people drink good beer - Hunter S. Thompson

<º)))><

Waiting for the time when I can finally say
That this has all been wonderful, but now I'm on my way

_________________

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Be well

GO BEARS!!!