It’s Op-ed Friday, so we’re up for all sorts of opinions. I was a little dumbstruck however, by this assertation by Blanche Evans, editor of Realty Times:
Big banks will sweep in and be the heroes of this subprime/foreclosure mess, as soon as they figure out how to get the feds to insure higher dollar amounts in conforming loans as well as more alternative loan products to conforming loans.
We’ll see the return of Alt-A loans and higher-priced subprime loans, but they’ll have new names that won’t remind Wall Street and Main Street of the ugly recent past.
No documentation loans will become Trust Signer loans. Subprime loans will become Replay Loans, and zero-down loans will become Equity-waived Loans.
This is so wrong on so many levels- I’m not even going to try and and tackle it today. We’d much rather hear your opinions, links, stories and ideas.
As always, this thread’s for you!