Closing the barn door after the horse is gone

Months after discovering that making no-doc, cash-back, inflated-appraisal loans to unemployed 24-year-olds might be a bad idea, Countrywide tightens lending standards.

How tight? Well, not so tight. Borrowers in the three worst bubble markets in the country will now have to put 5% down.

No comments:

CalPERS Fail

Despite the awesome bull market this year, CalPERS again missed its return target, earning only 5.8% vs. its required 6.8%. CalPERS has mi...