Maxed Out Mama: "Grim and Grimmer"

She is none too happy with recent housing happenings. Real-estate investers, owners, etc. Take note!

I have been trying to explain aspects of the mortgage market that have changed sharply in the last five years over at Piggington's. I don't think I'm succeeding. But try this paper for an explanation of the shift in the market (pdf).

Also, please take a look at the second post on this NJ RE Report thread. I got this from the comments on Grim's excellent blog, which has poor linking facilities. So this is the best I can do.