Craig Cole

My mortgage finance career has been focused on avoiding nonperforming assets or REO although unforeseen circumstances invariably result in some.

The U.S. government has spent something north of one trillion dollars bailing out underwater or defaulting mortgage borrowers.

A private company has proposed inducing local governments in the "test" state of California to exercise their power of eminent domain to seize, not houses or property, but the underlying liens.

Are the instructive lessons of the past sufficiently integrated into current industry business models and strategic planning?

In my opinion there is a significant disconnect in the jumbo mortgage between the primary market and the secondary market. What is fascinating is very little discussion or attention is being focused on this issue, at least from the perspective of what consumers want.