BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Market Movers >  

Mark To Model Datapoint Of The Day

Market Movers

by Felix Salmon
Main
Extra Credit, Monday Edition   Getting it Backwards

Recent Blog Posts

Links

May 19 2008 12:00am EDT

Mark-to-Model Datapoint of the Day

The gimlet-eyed SAR found this gem in a Bloomberg story from Friday:

Potential homeowners approved by [Fannie Mae's] automated computer program will be able to borrow up to 97 percent of the value of the property, the company said...
The government-chartered company said it can handle the changes, reported earlier by the Wall Street Journal, because it's changing the computer models it uses to assess whether it will accept specific loans.

Lemme get this straight: Fannie Mae can start offering automatic 97% LTV mortgages again, because it's changed its computer models, and the new computer models say it's OK? Well, I'm reassured. I mean , it's not like disastrous computer models are what got us into this mess to begin with.

. □

blog comments powered by Disqus
 
Feedbackpowered byPowered by WebUltra
U.S. Uncovered
Rich City, Poor City

Which cities were still making money during the recession and which went under? Our analysis.

Don't Mess With Texas Small Biz

Best U.S. metro areas that are most conducive to the creation and development of small businesses.

A Sporting Chance

A look at the places best primed economically to host a major-league sports franchise.

spotlight on

Multimedia

Wealth Central

The Great Recession certainly took its toll on cities across the United States. But even with high unemployment rates and declining wages, some communities have done very well for themselves. View Interactive Feature