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Can the Great Recession happen again?

I am not quite sure exactly when I received “The Subprime Primer,” a slide deck that someone e-mailed me early in 2008. I do remember thinking that it was unlikely ever to be surpassed as an introduction to the financial chain reaction that began as I was writing “The Ascent of Money” and reached its climax in the months after the failure of Lehman Brothers, the 10th anniversary of which fell Saturday.

Illustrated with foul-mouthed stick men, the Subprime Primer’s 45 slides told the story of how “crappy” mortgage loans made by “Ace Mortgage Brokers” came to be sold to “First Bank of Bankland, Inc.,” who then sold them to “RSG Investment Bank of Wall Street.” The really smart guys (hence RSG) were the ones who came up with the idea of “creat[ing] a new security and us[ing] these crappy mortgages as collateral,” and then selling the resulting collateralized debt obligation to investors such as the “Norwegian Village Pension Fund.” We all now know how the story ended.

Freddie Mac leverages big data to improve the mortgage lending experience

“Big data” is a hot topic these days, especially in the financial industry. We know plenty about big data. At Freddie Mac, we have 40+ years of historical data — drawn from millions of mortgage records. But big data alone doesn’t deliver innovation. It’s what you do with it that matters.

We’re proud to say that we’ve moved beyond merely analyzing big data and are now employing it to drive efficiencies in the mortgage lending process. Using advanced analytics to analyze trends and patterns detected in our data, we’ve built applications designed to help lenders underwrite mortgages more quickly and cost-effectively. If lenders can simplify their processes, they are better positioned to reduce costs for borrowers.

One example of how we’ve used big data to drive innovation is our automated collateral evaluation (ACE) offering, which lenders can use to determine whether they can underwrite a Freddie Mac-eligible mortgage without a property appraisal. ACE boils smart lending down to a science. It leverages algorithms that use our extensive historical and public records data, MLS, repeat sales and prior appraisals to assess the condition and marketability risks tied to a home. This allows Loan Product Advisor to assess whether the value provided by the lender is acceptable.

Who took over Ace Mortgage's home loans?

My mortgage was with Ace, and we haven't gotten anything telling us who has our loan now... or where to send the payment.

Companies like ACE are only brokers who sell the mortgages to someone else. So you do not know who actually owns your mortgage. If you were making your mortgage payments to ACE they were probably just servicing the loan. где купить сантехработы.