Colli Real Estate

Tough Stretch Sees Poor 2nd Quarter at Goldman
Those master traders at Goldman Sachs didn’t see it coming, either. The “flash crash” and the rest of the stock market madness in May and June, as well as the cost of settling an embarrassing civil fraud suit, hammered Goldman’s second-quarter profits.
The Subprime Mortgage Crisis of the United States

The Big Short: Inside the Doomsday Machine $6.00 Who saw the real estate market for the black hole it would become, and eventually made billions of dollars from that perception? And what qualities of character made those few persist when their peers and colleagues dismissed them as Chicken Littles? Out of this handful of unlikely – really unlikely – heroes, Lewis fashions a story as compelling and unusual as any of his earlier bestsellers, provi…

Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon $10.34 The New York Times’s Pulitzer Prize-winning columnist reveals how the financial meltdown emerged from the toxic interplay of Washington, Wall Street, and corrupt mortgage lenders.In Reckless Endangerment, Gretchen Morgenson, the star business columnist of The New York Times, exposes how the watchdogs who were supposed to protect the country from financial harm were actually complicit in the action…

The Monster: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America–and Spawned a Global Crisis $4.65 Who killed the economy? A page-turning, true-crime exposé of the subprime salesmen and Wall Street alchemists who produced the biggest financial scandal in American history “It’s hard to have a guilty conscience if you don’t have a conscience. Anything that benefited production – that benefited me and benefited my wallet – I’d do it.”The sales force at Ameriquest Mortgage took this philosophy to …

Subprime Mortgage Fraud And The U.s. Economic Crisis $90.95 Subprime Mortgage Fraud And The U.s. Economic Crisis

Confessions of a Subprime Lender (Paperback) $27.35 Former subprime lender Richard Bitner once worked in an industry that started out helping disadvantaged customers but collapsed due to greed, lack of financial control and willful ignorance. In Confessions of a Subprime Lender: An Insider`s Tale of Greed, Fraud, and Ignorance, he reveals the truth about how the subprime lending business spiraled out of control, pushed home prices to unsustainable levels, and turned unqualified applicants into qualified borrowers through creative financing. Learn about the ways the mortgage industry can be fixed with his twenty suggestions for critical change.

Modeling Subprime Mortgage Delinquency, Default, Prepayment and Loss. $83.16 The current financial environment presents significant challenges for the mortgage industry. Declining house prices have surfaced the importance of delinquency, loan default and loss predictions. Simple models of prepayment behavior are no longer applicable. Investors, originators, servicers and regulators are in need of more accurate predictions for their portfolios of interest. This dissertation focuses on two topics relevant to modeling residential mortgages. The first topic provides a framework for modeling delinquencies, prepayments, defaults and losses that represents an enhancement over previous studies. A total of nine loan payment statuses are used (current, thirty-days delinquent, sixty-days delinquent, ninety-days delinquent, early foreclosure, late foreclosure, real estate owned, paid in full, and terminated with loss). This framework is compared to the previous framework discussed in the literature that used seven statuses. The second topic applies reconstructability analysis (RA) to residential mortgage data in order to find new and interesting models. Many statistical methods are unable to reflect non-linearities and significant high-level interactions. RA is capable of doing both. The study explores the hypothesis that the inclusion of RA-suggested interaction terms would improve the accuracy of the logistic regression (LR) models used to forecast loan status changes within mortgage portfolios. The first topic’s result made two unique and important contributions to the mortgage management literature. First, it finds that the nine-state framework yields more accurate results than the seven-state framework. It also introduces a new state ‘terminated with loss’ that enables the framework to predict losses. The second topic’s results confirm the hypothesis that RA suggested interaction terms improve the performance of LR model. This is a useful contribution to the data mining literature since it enhances the performance of LR which is a widely used data mining methodology.

Tags:   business · economics · economy · finance · subprime mortgage industry collapse · wallstreetNo Comments