Mr. Mortgage Explains the Alt “A” Crisis
I have been following Mark “Mr. Mortgage” Hansen from Field Check Group. In my opinion he has one of the sharpest insights to what the future holds in the mortgage market. He is clearly following defaulting vintage loans and delinquencies and assessing how they roll into failed loan modifications. These failed loan mods turn into short sales and foreclosures. He is giving us a glimpse of the 2nd and 3rd wave of foreclosures will look like.
In fact, “Mr. mortgage” predicted this a year and half ago…April 16th 2008
as of today’s day August 28th 2009 he has had approximately 53,000 views on his now famous YouTube prediction called “Here comes the Alt A Crisis”. He was doing a series of educational videos that I really enjoyed. I found them extremely helpful in understanding the mortgage crisis. Thank you Mark! Please make more of them.
Take a look at the April 16th, 2008 production date. When I first view this I knew he was the man to follow. At Coastal Mitigation Partners we were training local Portland Real estate agents how to package and submit short sales and showed them clips of this video. They were absolutely in shock and some of them revolved saying it was not possible. Well here we are looking at the statistics. I myself am knee deep in fannie mae or agency prime short sales.
I will post in a few days discussing Mark’s latest info as seen on his blog. I want a few days to digest this info.
JB Beyer
