Category: Underwriting

­­Month in Review: November, 2013

30 December, 2013 (14:41) | Airbnb, Cemetery, Cities, Finance, Global news, Housing, Immigration, Informality, Mortgages, New York City, Property rights, Saudi Arabia, Underwriting, US News, Zoning |

By:David A. Smith [Previous Months in Review available here: Oct 13, Sep 13, Aug 13  Jul 13 Jun 13  May 13, Apl 13, Mar 13, Feb 13, Jan 13,] My friend Michael Mutter likes to say that one can become urban without moving, and when that happens, land use and habits practiced since time immemorial […]

Strategic mortgage denial

15 November, 2013 (09:00) | Credit, Foreclosure, Homeownership, Markets, Strategic mortgage default, Underwriting, US News |

By:David A. Smith   From the What-did-you-expect? Department comes this story of people who, deserving no sympathy, are astonished, mortified, flabbergasted to discover that they get none – as reported in Market Watch (October 18, 2013):   Foreclosures dog even wealthiest home buyers   As I’ve posted before, for some reason unfathomable to me, journalists […]

Cottage underwriting

29 December, 2010 (13:20) | Down payments, Equity, Homeownership, Innovations, Lending, Massachusetts, MassHousing, Underwriting | 2 comments

By: David A. Smith   As an epicurean banker should have observed, some things utterly unscalable can be sustained in miniature – as revealed by this curiously ambivalent Boston Globe article on a MassHousing-administered helping hand to a lucky few:   Shouldn’t all borrowers look this presentable? Boston Globe: Jean Marie Sideris purchased this Cambridge […]

Indian microfinance, the definitive investigation: Part 3, Verdict

15 December, 2010 (11:31) | Andhra Pradesh, David Roodman, Global news, India, Interest Rates, Microfinance, Regulation, Theory, Underwriting | 1 comment

[Continued from yesterday’s Part 2 and the preceding Part 1.]   By: David A. Smith   In the first two-thirds of his terrific post, When Indian Elephants Fight, David Roodman of the Center for Global Development has done first-rate work uncovering not only the market facts – bad behavior by microfinance institutions in Andhra Pradesh […]

Indian microfinance, the definitive investigation: Part 2, Defense

14 December, 2010 (12:55) | Andhra Pradesh, David Roodman, Global news, India, Interest Rates, Microfinance, Regulation, Theory, Underwriting |

[Continued from yesterday’s Part 1.]   By: David A. Smith   Yesterday’s post closely tracking David Roodman‘s terrific essay, When Indian Elephants Fight, made the prosecutor’s case, that Indian MFIs had grown too fast, missed structural problems with their borrowers’ economies, and tried to blow off potential regulatory restraining actions.  Damning stuff indeed, if that […]