http://blownmortgage.disqus.com/Mortgage and finance with a sarcastic bentenTue, 06 Jan 2009 22:06:28 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4945909Visiting to test FriendFeed/Disqus Comment Sync. Great, I seen this works great on your FF.dedenTue, 06 Jan 2009 22:06:28 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947465Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 21:38:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947467Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 21:38:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948389Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 21:38:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947466Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 21:38:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948387Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 21:38:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948388Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 21:38:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948384Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 20:37:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948385Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 20:37:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947463Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 20:37:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948386Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 20:37:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947464Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 20:37:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947462Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 20:37:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947461Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 20:37:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948383Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 20:37:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948382Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 19:34:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948380Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 19:34:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947460Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 19:34:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948379Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 19:34:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948381Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 19:34:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947457Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 19:34:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947458Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 19:34:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4947459Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey ... (comment via Disqus by Morgan)MorganTue, 06 Jan 2009 19:34:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948378Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey as they needed to be to drum up maximum loan volume.<br><br>It calls to mind an old Bob Seger lyric that should should have special resonance for Dick Kovacevich (chairman of Wells & former Norwest CEO):<br><br>"She stood there briMorganTue, 06 Jan 2009 17:33:00 -0000http://blownmortgage.com/2008/12/31/piggyback-mortgages-make-loan-modification-harder/#comment-4948377Wells routinely went into 2nd position behine Option ARMs. They simply noted the balance of any already existing first mortgage from the credit report and did not demand to see a copy of the Note to determine whether it had neg am potential. That they went into 2nd position behind Option ARMs is particularly odd given that they were not much into doing Option ARMs as first mortgages. I attribute the odd diverging risk tolerance to the fact that Wells Fargo Home Mortgage was (and still is) largely run by the old Norwest mortgage folks from MN. When Norwest bought Wells, Norwest's generally conservative mortgage bosses kept running mortgage. The banking side of Wells was much more the province of the Californians. So, in typical gold-rush fashion, the banking side was as loosey-goosey as they needed to be to drum up maximum loan volume.<br><br>It calls to mind an old Bob Seger lyric that should should have special resonance for Dick Kovacevich (chairman of Wells & former Norwest CEO):<br><br>"She stood there briMorganTue, 06 Jan 2009 17:33:00 -0000