So, is Morgan Stanley recruiting us? Is that... Oh, no. No. The bank owns our hedge fund...
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Quote
Mortgage Broker:
So, is Morgan Stanley recruiting us? Is that...
Porter Collins:
Oh, no. No. The bank owns our hedge fund but we're not really a part of it. We invest in financial service companies and we're trying to understand the residential mortgage business.
Mark Baum:
How many loans do you write each month?
Mortgage Broker:
Pffft! About sixty.
Mark Baum:
What was it four years ago?
Mortgage Broker:
Ten... maybe fifteen.
Mortgage Broker:
Yeah, I was a bartender. Now I own a boat.
Danny Moses:
You own a boat? So how many of these are, uh, adjustable rate mortgages?
Mortgage Broker:
Well, most. Yeah, I'd say about ninety percent. The bonuses on those skyrocketed a few years ago. Adjustables are our bread and honey.
Danny Moses:
So do applicants ever get rejected?
Mortgage Broker:
[laughs]
Seriously? Look, if they get rejected, I suck at my job.
Danny Moses:
Even if they have no money?
Mortgage Broker:
Well, my firm offers NINJA loans - no income, no job. I just leave the income section blank if I want. Corporate doesn't care. These people just want homes, you know, and they just go with the flow.
Danny Moses:
Good for you.
Mark Baum:
Your companies don't verify?
Mortgage Broker:
If I write a loan on Friday afternoon, big bank will buy it by Monday lunch.
Transcript
00:00:01.000 --> 00:00:03.586
So is Morgan Stanley recruiting us Is that it
00:00:03.878 --> 00:00:06.084
Oh no No The bank owns our hedge fund
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but we're not really part of it
00:00:08.999 --> 00:00:10.552
We invest in financial service companies
00:00:10.635 --> 00:00:13.596
and we're trying to understand the residential mortgage business
00:00:13.068 --> 00:00:16.599
How many loans do you write each month
00:00:16.724 --> 00:00:18.268
BLOWS AIR About 60 Yeah
00:00:18.351 --> 00:00:19.811
What was it four years ago
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Ten PORTER WHISTLES
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Maybe 15
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Yeah I was a bartender Now I own a boat
00:00:25.009 --> 00:00:26.009
LAUGHING You own a
00:00:26.943 --> 00:00:30.196
So how many of these are adjustable rate mortgages
00:00:30.028 --> 00:00:31.948
MAN IN BLACK Well most Oh yeah
00:00:32.999 --> 00:00:33.992
Yeah I'd say about 90
Clip duration: 35 seconds
Views: 287
Timestamp in movie: 00h 50m 43s
Uploaded: 19 March, 2022
Genres: comedy, drama
Summary: The men who made millions from a global economic meltdown.
Comments
Actors
00:32 It really makes me hate you
00:11 Are you being sarcastic with us Mike
00:07 Yeah Yeah it's time to call bullshit
00:09 VINNIE How come you don't hate this guy
00:34 Basically Lewis Ranieri's mortgage bonds
00:35 Okay look If home prices don't go up
00:05 Just don't fucking dance
00:32 Thank you
00:35 It's only a matter of time before someone else sees...
00:08 Our investment strategy was simple
00:13 MIKE Lawrence I found something really interesting
00:22 How big is your short position right now
00:14 Trust me I'm not driving a 7 Series without strippers
00:03 I love my job
00:34 Jared it's chaos down here Where are we
00:17 100 million Who are you a drug dealer or a banker
00:23 We have no confidence in your ability to identify
00:20 Michael TAPPING
00:12 Now their foot's on fire they think
00:14 Thanks for coming guys