Posts Tagged ‘mortgages’

New HUD Secretary - The Good and Bad So Far

New HUD Secretary – The Good and Bad So Far

By The Banker | Blog Posts, Texas

Editor’s Note: A version of this post ran this morning in the San Antonio Express News. I can’t remember any speech Mayor Julian Castro ever made to which I paid much attention. Decade of Downtown? Meh. I had just moved to San Antonio’s downtown and I didn’t have any context. Democratic National Convention? I missed [&hellip

On Mortgage Spreadsheets and Old French Origins

On Mortgage Spreadsheets and Old French Origins

By The Banker | Audio Posts, Personal Finance, Video

I was scouring the interwebs lately for a financial education project I’m doing and I came across Sal Khan’s joint educational venture with Bank of America called www.bettermoneyhabits.com There’s some very good stuff there, but I was drawn in particular to his “How does a mortgage work” video. I recommend checking it out here. I [&hellip

Mortgages Part VIII - The Cause of the 2008 Crisis

Mortgages Part VIII – The Cause of the 2008 Crisis

By The Banker | Blog Posts, Wall Street

On the 2008 mortgage crisis, from my perspective Ok friends, are you ready?  I’m about to piss you off. Contrary to the dominant journalistic narrative of the 2008 Crisis – that greedy bankers and their Wall Street enablers tricked the poor and gullible into predatory loans on their homes which led to foreclosures and economic [&hellip

Mortgages Part VI - On Wall Street

Mortgages Part VI – On Wall Street

By The Banker | Blog Posts, Wall Street

How do mortgages make it to Wall Street anyway? None of the following is essential to understanding mortgages from a personal finance standpoint, I just thought the details of mortgage securitization and mortgage bond trading and structuring would be interesting for some people.     I sold mortgage bonds at Goldman for a few years [&hellip

Mortgages Part V - Good Debt? Dangerous Drug? Or Both?

Mortgages Part V – Good Debt? Dangerous Drug? Or Both?

By The Banker | Blog Posts, Personal Finance

Is mortgage debt good debt? A dangerous drug? Or both? All debt acts like a drug. Debt artificially changes your personal financial metabolism, accelerating personal consumption, and exaggerating investment losses and gains.  Like any pharmaceutical, debt can be life-saving.  Without debt, you might have to wait an additional 10 years before you’ve saved up enough [&hellip