Anyone know a lender that considers salary growth potential & other factors

Thomasb

Indeed, but a systematic bank failure is a non linear process and occurs with positive feedback.
The problem is a lot more international than I envisaged in January. The process began in America, with falling prices, keys being handed back, auctions dragging prices down, creating negative equity, mortgage broker/savings and loans failure

....the rest looks like an odds on proposition. I stated the probability as 5-10 % in January. I would up that to 55%. This means there is still a 45% chance I will be proved wrong. However the consequences of being proved right, will probably be dire, the consequences of being proved wrong are not that serious. This makes it a very asymmetrical outcome and thus one that sensible people will prepare for

The point here is not that I have been proved right, but that Phil dismissed the possibility - a very dangerous trait in someone who wishes to be a finance professional

 

Paragon next perhaps?

http://business.timesonline.co.uk/tol/business/markets/article2452355.ece

 

From http://ml-implode.com/

A financial holocaust coming to these shores soon

226 failed US mortgage providers since late 2006

226. Saxon Mortgage (Wholesale)
225. Beazer Mortgage Corp.
224. E-Loan (Wholesale)
223. Allpointe Mortgage (Broker Program)
222. Popular Warehouse Lending
221. Allied Lending Corp. (Wholesale)
220. BF Saul Wholesale Lending
219. Community Resource Mortgage
218. Lehman/Aurora Loan Services
217. Residential Mortgage Capital
216. Maverick Residential Mortgage
215. Countrywide Financial Corp.
214. First NLC Financial Services
213. First American Bank (Wholesale)
212. Soma Financial
211. National City Corp. (Wholesale)
210. Heartland Wholesale Funding
209. Homefront Mortgage Inc.
208. PNC Bank H.E.
207. Family First Mortgage Corp.
206. First Fidelity Financial
205. BSM Financial
204. 1st Choice Mortgage
203. Wescom Credit Union
202. Coast Financial Holdings/Coast Bank
201. WaMu (Subprime)
200. First Madison Mortgage
199. Southern Star Mortgage
198. TransLand Financial
197. Secured Bankers Mortgage Company (SBMC)
196. ComUnity Lending
195. Delta Financial Corp
194. BayRock Mortgage
193. Empire Bancorp
192. Option One - H&R Block
191. Citigroup - FCS Warehouse
190. Charter One (Wholesale)
189. Wells Fargo - Home Equity
188. Paul Financial, LLC
187. Webster Bank (Wholesale)
186. Fieldstone Mortgage Company
185. Tribeca Lending Corp. (Wholesale)
184. WAMU Comm. Correspondent
183. Marlin Mortgage Company
182. Countrywide Specialty Lending
181. UBS Home Finance
180. MortgageIT-DB (Retail)
179. Edgewater Lending Group
178. ResMAE Mortgage Corp.
177. Citimortgage Correspondent (2nds)
176. AMC Lending
175. Liberty American Mortgage
174. Exchange Financial (Wholesale)
173. FirstBank Mortgage
172. Bank of America (Wholesale)
171. Diablo Funding Group Inc.
170. Honor State Bank
169. Spectrum Financial Group
168. Priority Funding Mortgage Bankers
167. BrooksAmerica Mortgage Corp.
166. Valley Vista Mortgage
165. New State Mortgage Company
164. Summit Mortgage Company
163. WMC
162. Paragon Home Lending
161. First Mariner Wholesale
160. The Lending Connection
159. Foxtons, Inc.
158. SCME Mortage Bankers (Wholesale)
157. Aapex Mortgage (Apex Financial Group)
156. Wells Fargo (various Correspondent and Non-prime divisions)
155. Nationstar Mortgage
154. Decision One (HSBC)
153. Impac Lending Group
152. E*Trade Wholesale Lending
151. Long Beach (WaMu Warehouse/Correspondent)
150. Expanded Mortgage Credit Wholesale
149. The Mortgage Store Financial
148. C & G Financial
147. CFIC Home Mortgage
146. All Fund Mortgage
145. LownHome Financial
144. Sea Breeze Financial Services
143. Castle Point Mortgage
142. Premium Funding Corp
141. Group One Lending
140. Allstate Home Loans / Allstate Funding
139. Home Loan Specialists (HLS)
138. Transnational Finance Wholesale
137. CIT Home Lending
136. Capital Six Funding
135. Mortgage Investors Group (MIG) - Wholesale
134. Amstar Mortgage Corp
133. Quality Home Loans
132. BNC Mortgage (Lehman)
131. Accredited Home Lenders, Home Funds Direct
130. First National Bank of Arizona
129. Chevy Chase Bank Correspondent
128. GreenPoint Mortgage - Capital One Wholesale
127. NovaStar, Homeview Lending
126. Quick Loan Funding
125. Calusa Investments
124. Mercantile Mortgage
123. First Magnus
122. First Indiana Wholesale
121. GEM Loans / Pacific American Mortgage (PAMCO)
120. Kirkwood Financial Corporation
119. Lexington Lending
118. Express Capital Lending
117. Deutsche Bank Correspondent Lending Group (CLG)
116. MLSG
115. Trump Mortgage
114. HomeBanc Mortgage Corporation
113. Mylor Financial
112. Aegis
111. Alternative Financing Corp (AFC) Wholesale
110. Winstar Mortgage
109. American Home Mortgage / American Brokers Conduit
108. Optima Funding
107. Equity Funding Group
106. Sunset Mortgage
105. Nations Home Lending
104. Entrust Mortgage
103. Alera Financial (Wholesale)
102. Flick Mortgage/Mortgage Simple
101. Dollar Mortgage Corporation
100. Alliance Bancorp
99. Choice Capital Funding
98. Premier Mortgage Funding
97. Stone Creek Funding
96. FlexPoint Funding (Wholesale & Retail)
95. Starpointe Mortgage
94. Unlimited Loan Resources (ULR)
93. Freestand Financial
92. Steward Financial
91. Bridge Capital Corporation
90. Altivus Financial
89. ACT Mortgage
88. Alliance Mortgage Banking Corp (AMBC)
87. Concord Mortgage Wholesale
86. Heartwell Mortgage
85. Oak Street Mortgage
84. The Mortgage Warehouse
83. First Street Financial
82. Right-Away Mortgage
81. Heritage Plaza Mortgage
80. Horizon Bank Wholesale Lending Group
79. Lancaster Mortgage Bank (LMB)
78. Bryco (Wholesale)
77. No Red Tape Mortgage
76. The Lending Group (TLG)
75. Pro 30 Funding
74. NetBank Funding, Market Street Mortgage
73. Columbia Home Loans, LLC
72. Mortgage Tree Lending
71. Homeland Capital Group
70. Nation One Mortgage
69. Dana Capital Group
68. Millenium Funding Group
67. MILA
66. Home Equity of America
65. Opteum (Wholesale, Conduit)
64. Innovative Mortgage Capital
63. Home Capital, Inc.
62. Home 123 Mortgage
61. Homefield Financial
60. First Horizon Subprime, Equity Lending
59. Platinum Capital Group (Wholesale)
58. First Source Funding Group (FSFG)
57. Alterna Mortgage
56. Solutions Funding
55. People's Mortgage
54. LowerMyPayment.com
53. Zone Funding
52. First Consolidated (Subprime Wholesale)
51. EquiFirst
50. SouthStar Funding
49. Warehouse USA
48. H&R Block Mortgage
47. Madison Equity Loans
46. HSBC Mortgage Services (correspondent div.)
45. Sunset Direct Lending
44. Kellner Mortgage Investments
43. LoanCity
42. CoreStar Financial Group
41. Ameriquest, ACC Wholesale
40. Investaid Corp.
39. People's Choice Financial Corp.
38. Master Financial
37. Maribella Mortgage
36. FMF Capital LLC
35. New Century Financial Corp.
34. Wachovia Mortgage (Correspondent div.)
33. Ameritrust Mortgage Company (Subprime Wholesale)
32. Trojan Lending (Wholesale)
31. Fremont General Corporation
30. DomesticBank (Wholesale Lending Division)
29. Ivanhoe Mortgage/Central Pacific Mortgage
28. Eagle First Mortgage
27. Coastal Capital
26. Silver State Mortgage
25. ECC Capital/Encore Credit
24. Lender's Direct Capital Corporation (wholesale division)
23. Concorde Acceptance
22. DeepGreen Financial
21. American Freedom Mortgage, Inc.
20. Millenium Bankshares (Mortgage Subsidiaries)
19. Summit Mortgage
18. Mandalay Mortgage
17. Rose Mortgage
16. EquiBanc
15. FundingAmerica
14. Popular Financial Holdings
13. Clear Choice Financial/Bay Capital
12. Origen Wholesale Lending
11. SecuredFunding
10. Preferred Advantage
9. MLN
8. Sovereign Bancorp (Wholesale Ops)
7. Harbourton Mortgage Investment Corporation
6. OwnIt Mortgage
5. Sebring Capital Partners
4. Axis Mortgage & Investments
3. Meritage Mortgage
2. Acoustic Home Loans
1. Merit Financial

 

237. New Vision Residential Lending
236. Washington Savings Bank, F.S.B. - Wholesale
235. Macquarie Mortgages USA Inc.
234. Global Mortgage, Inc.
233. Unique Mortgage Solutions (UMS, LLC)
232. First Franklin - Merrill Lynch
231. First National Mortgage Sources
230. Resource Mortgage (Wholesale)
229. KH Financial
228. Lydian Mortgage
227. OMG Wholesale Lending

 

Bear Stearns now

Phil must be fairly embarassed about this thread

 

Oh I do love this thread, it gets funnier with each day's headlines.

Kudos to Cardano for:
a) actually being able to predict the future (in Jan 2007!)
b) recently resisting smug updates as one by one the banks close their doors and run to the hills

Perhaps we should update the profession's tagline post merger. Something like:

"Making financial sense of the future (not that we can acually predict the future mind - but our guess is probably better than yours. Oh, except for Cardano who can actually predict the future!)"

Not snappy perhaps, but thorough.

 

Thanks Zebedee - A lifetime studying politics and economics and a thorough education in the Socialist Workers Party in my youth

I intend to put up some predictions on the political consequences of all this, when I have gathered all my thoughts.

 

Hm, sounds interesting Cardano...

Given that background, any thoughts on the food crisis and/or overdependence on oil?

 

I wasn't really intending commenting on either of those subjects which for reasons I don't intend discussing here are peripheral to the current debt liquidation. On another thread perhaps?

 

I am going to qualify that last comment as it is not entirely satifactory. Debt liquidations can occur in eras of rising real commodity prices (eg 73-75) or falling real commodity prices (29-33). The changing price of commodities are however secondary to the expansion of credit that precedes the liquidation

 

Hm... I wasn't actually thinking of the link to the current debt liquidation when I posted.... just that your views given your background could be interesting.

It wasn't until you said 'commodities' where I was thinking 'oil up => food up' that my head made the connection!

So then, do you think the current rise in food prices is mainly to do with the credit crunch (as people flee to commodities rather than equities or bonds - is my reasoning here OK?), or is there also another factor at play?

Must say, I haven't studied depression economics at all - was 29-33 falling commodity prices because noone could buy (to hazard a guess)?

Will start a new thread for this one, I think....

 

I shall be putting a history of banking since 1850 up on this thread in June. This is largely to draw comparisons between what bankers have failed to learn in the past and what they will inevitably fail to learn in the future. I will also be indicating how British politics is going to be changed forever due to the present financial crisis.

Unfortunately I work the academic year and can not really do this subject justice until I get several free days

 

Obviously yesterday's failure of Indymac marks another low in this entirely avoidable and sorry saga.
The failure of Freddie and Fannie will almost certainly mark the end of the crisis (as pointed out in my 18/8/07 post on this thread). This will not occur until after the presidential election though. Bush will patch it up not wanting to have it fail while he's president and Obama or McCain will be able to scape goat Bush sometime in 2009/10

I still intend putting up some paragraphs on the 1837, 1873, 1907, 1929 and 1973 credit crunches, I just haven't had time yet

 

On the 20th August 2007, I put up a post on the thread about the government rewriting their commitments on their long term debt and they have started. The Bradford and Bingley debt (which the government foolishly agreed to guarantee) has been rewritten in order to make a default suddenly not be a default, presumably because this will have knock on effects in the CDS market.

http://www.telegraph.co.uk/finance/...s-fear-new-losses-on-Northern-Rock-bonds.html

This is a very serious development, because it sets a precedent and will potentially have enormous unintentional consequences