Lonnie Glessner's (lonnieglessner) Blog

Mortgage and Lending - America's Mortgage LLC
Great Intentions Now we begin to uncover the fifth party responsible for this Mortgage Mess and this party has the most fault in my opinion. It is our elected officials and this goes all the way back to 1977. In 1977 President Carter signed into law the Community Reinvestment Act or CRA, which wa...
The Insanity of Americans Last week I covered the first three parties at fault in the Mortgage Mess that has turned into a global financial catastrophe. No doubt that the Federal Reserve, the mortgage industry, and Wall Street played a huge part in this mess; but if borrowers were making their ho...
Follow the Money  The first two parties in this Mortgage Mess have been the Federal Reserve and Wall Street. Today, I want to cover the third party involved in this mess and it is my own industry, the mortgage lending industry. First and most importantly, many "leaders" of my industry have fought...
Heads in the Sand  As I explained yesterday greed led to the devastation of lending standards that had been around for decades. Today I want to cover four more reasons that led to this HUGE Mortgage Mess. First, after awhile no one on Wall Street truly knew what they were buying or providing the ...
As I covered previously the Federal Reserve kept interest rates at historical lows for 46 consecutive months and this combined with the Bear Market in stocks from early 2000 through October 2002 caused both individual and institutional investors to seek higher returns elsewhere. They found them b...
Since July 2007 over 200 mortgage lenders and banks  have gone under. Investment firms have declared bankruptcy or been sold at deep discounts. Two large and very public banks have been declared insolvent and one of them was sold for a penny on the Dollar. The nation's fourth largest bank, Wachov...

Lonnie Glessner

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