total national credit score data mining Imagine the possibilities

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  • Fri, Dec 05, 2008 - 10:10pm

    #21
    lundsta

    lundsta

    Status Bronze Member (Offline)

    Joined: Oct 14 2008

    Posts: 56

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    Re: total national credit score data mining Imagine the …

Question 1.

 

In a modification the loan terms and contract stays the same. The only thing that changes is the payment (via interest rate or monthly payment decreases) Those loans do exist but a borrower would not start out with a 30 year fixed and then be changed to a non-recourse loan. Also Non-recourse loans are typically found in commercial real estate deals.

" A non-recourse debt of $30 billion was issued to JPMorgan Chase by the Federal Reserve in order to purchase Bear Stearns
on March 16, 2008. The non-recourse loan was issued with Bear Stearns
less liquid assets as collateral, meaning that the Federal Reserve will
absorb the loss should the value of those assets be below their
collateralized value." (Wikipedia 3)

Wikipedia ~ Nonrecourse debt  

http://en.wikipedia.org/wiki/Nonrecourse_debt 

Question 2

FHA loans are being treated as investor owned and modifications are not being granted. This may change. The bottom line is no one wants to lose money.  

 

I hope this helps. My previous commet was to "Rlee" also known as Bob.  I just did not want you to think I was ranting for no good reason. 

 

  • Sat, Dec 06, 2008 - 02:16am

    #22
    bobb dobbs

    bobb dobbs

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    Joined: Apr 22 2008

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    Re: total national credit score data mining Imagine the …

lundsta @ #20

Thanks for the explanations and link.

"The bottom line is no one wants to lose money." No blame there. That’s why I’m asking all these questions. I’ll ask more as they occur to me.

You said "My previous commet was to "Rlee" also known as Bob." I knew you weren’t talking to me. It was clear.

bobb

 

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