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Reply to SNL  Alaska Trip  Who's Going?     
Old 09-11-2017, 09:01 AM   #31
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SNL  Alaska Trip  Who's Going? Re: SNL Alaska Trip Who's Going?
Doesn't take much for a company to impress Newby.
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Old 09-11-2017, 09:05 AM   #32
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SNL  Alaska Trip  Who's Going? Re: SNL Alaska Trip Who's Going?
Originally Posted by Newby View Post
The big one for me is that the life insurance division creates money that is loaned out by the mortgage division.

Most insurance companies can't get a good return on their money these days. SNL has a division that needs lots if f cash to invest. And a separate division that creates a lot of cash that needs to be invested.
It's genius!
It's good to be the king!
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Old 09-11-2017, 09:43 AM   #33
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SNL  Alaska Trip  Who's Going? Re: SNL Alaska Trip Who's Going?
Originally Posted by SammyJ View Post
I was about to say that's a no no. Mortgages are risky as Aig showed us .
AIG was into sub-prime mortgages and verifying nothing. Huge difference with that and regular mortgages.
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Old 09-11-2017, 10:45 AM   #34
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SNL  Alaska Trip  Who's Going? Re: SNL Alaska Trip Who's Going?
Originally Posted by Newby View Post
AIG was into sub-prime mortgages and verifying nothing. Huge difference with that and regular mortgages.
If only...

AIG was writing CDS on bundles of mortgages that were effectively misrepresented. At best, the party seeking the CDS did not understand how to correctly calculate the debt quality based upon the underlying mortgages. At worst, it was outright fraud in misrepresenting them. And yes, AIG wasn't investigating the debt at all. I understand that some companies were basically underwriting CDS via instant messenger.

I had a couple of loans originated by SNMC, they still hold one. Seemed rather thorough in their underwriting.

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Old 09-11-2017, 08:03 PM   #35
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SNL  Alaska Trip  Who's Going? Re: SNL Alaska Trip Who's Going?
Originally Posted by jdeasy View Post
Doesn't take much for a company to impress Newby.
I look for the good in everyone.
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