Disqus - Latest Comments for Tom Hanna

Re: A few site updates

Tom Hanna — Mon, 07 Jan 2008 04:20:26 -0000

Not sure if the Profilactic widget was a new addition, but your blog was the first place I saw it and it was *exactly* what I'd been looking for lately.

Re: Stupid Season

Tom Hanna — Tue, 07 Oct 2008 02:07:53 -0000

I've been looking forward to temporary partial relief since election day 2000, but every time I think it might almost be here, I hear again the canard that Gore won Florida.

Re: Let’s Eliminate PMI-As-We-Know-It

Tom Hanna — Wed, 01 Oct 2008 03:46:57 -0000

PMI is not the problem. Most of the worst subprime loans didn't have it anyway and lots of loans with PMI are doing just fine. (Well, frankly, I suppose that could be said of mortgages generally, though.) I suppose in some cases PMI could be a problem if a lender let it be a substitute for good underwriting, but that just points to the real problem - bad underwriting.

Re: Politics behind the wheel

Tom Hanna — Fri, 04 Apr 2008 02:10:49 -0000

'68 MGB when it's running. Republican, Libertarian.

Re: More on manufactured homes

Tom Hanna — Sun, 28 Sep 2008 19:05:20 -0000

In 2002 Fannie Mae still had pretty tight underwriting standards on credit and income. Applying those same standards to manufactured housing, which typically had standards along subprime lines, probably would have presented a lower than 12% default rate. Of course, that didn't happen because 2002-2003 is when Fannie Mae lost its mind and started in earnest down the road to doing things like negative amortization, no-doc, no-down loans for people with a 450-FICO score. Bad credit underwriting on a site built house or a manufactured home? Not much difference really.