"... ‘Private Label’ Gains Appeal in Mortgage Market ~~ “Getting the securitization pipeline flowing again is a critical
component in turning this picture around,” he said in the opening speech
of the conference, where attendance has grown to 5,500 this year from
5,000 in 2012 ....
“The economy has less momentum going into 2013 than initially thought, making it vulnerable to external shocks,” said Stuart Hoffman, chief economist at PNC Financial Services Group.
Economists failed to predict the most recent contraction and if the economy continues to decline, then they will have also failed to predict the next US recession.
http://rt.com/usa/news/us-recession-economy-quarter-101/
http://blogs.wsj.com/developments/2013/01/29/private-label-gains-appeal-in-mortgage-market/
"... Editor’s Comment: As we travel down the road of misguided policy and judicial decisions, the banks are starting up a major effort to sell more mortgage securities under private label, which means that (a) they are not required to register them with the SEC and (b) they will continue to veil the secret movement of money making it more difficult for any borrower to know the identity of the lender in a residential loan transaction, contrary to the requirements of Federal and State laws....
"... If you assume all of the above is correct, then it is malpractice for any lawyer to admit the debt, the security, the balance due, the note, the mortgage and the enforceability of the note and mortgage. And it is malpractice for a lawyer doing real estate closings to fail to question title and demand a guarantee of title from a qualified source....
http://livinglies.wordpress.com/2013/01/30/banks-restarting-private-label-securitizations/
“Think of it as a giant hand holding down the economy,” Tim Hopper, chief economist at TIAA-CRED told the Wall Street Journal about the uncertainty over the long-term budget. And with a recession still holding down parts of Europe, US exports could continue to lag.
“The economy has less momentum going into 2013 than initially thought, making it vulnerable to external shocks,” said Stuart Hoffman, chief economist at PNC Financial Services Group.
Economists failed to predict the most recent contraction and if the economy continues to decline, then they will have also failed to predict the next US recession.
http://rt.com/usa/news/us-recession-economy-quarter-101/
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