Developing Affordable Housing Ecosystems World Wide
[Continued from previous Part 1 and Part 2.]
In my ongoing exploration of Joseph R. Mason’s new article, Mortgage Loan Modification: Promises and Pitfalls, we’ve hit the curious fact that loan servicers affiliated with originators have incentives to keep up appearances.
In this, Professor Mason concludes ulterior motives:
One of the key reasons loan modification has grown has [...]
[Continued from yesterday's Part 1.]
Yesterday’s post introduced and teased Joseph R. Mason’s new article, Mortgage Loan Modification: Promises and Pitfalls, exploring how loans in the subprime mess can be successfully recapitalized — or not.
Nothing to worry about
As I’ve posted six months ago, today’s lending business is intermediated — there are many intermediaries in the money [...]
“How’s your wife?”
“Compared to what?” Ba-da-bing!
– Henny Youngman one-liner
As the subprime mess continues to unfold, with rate and payment resets looming, Federal and state agencies rushing to offer refinancings or borrower relief, a gradually swelling chorus is advocating loan modifications and restructurings. As I’ve previously posted, securitization has made loan modification more complicated, and a [...]
[Continued from yesterday's Part 1.]
Yesterday’s post explored cryptobiotica, the small small-moving life to be found in the soils of America’s southwestern deserts, which I likened to slums in its ability to form a spontaneous community and to stabilize neighborhoods. As the U. S. Geological Survey phrased the ecology:
Cryptobiotic Soils: Holding the Place in Place
Cryptobiotic soil [...]
No, cryptobiotica is not the newest Las Vegas adult extravaganza.
Viva cryptobiotica!
It’s a curious form of desert life that has a direct analog in housing and urban development, something very much on my mind since my recent trip to India and Asia’s largest slum, Dharavi.
Nancy and I first encountered cryptobiotica a dozen years ago when we [...]
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