All You Ever Need to Know About How Mortgages Work

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Last Sunday, one of my all-time favorite bloggers passed away at the age of 47 from ovarian cancer. God I hate that disease.

Doris “Tanta” Dungey was an amazing writer on the fabulous finance and economics blog, Calculated Risk. If you don’t read CR, start. It holds a wealth of information.

Tanta had a way of explaining complex (and let’s face it, stupefyingly boring) topics in a way that made them easy to understand by normal people like you and me. She was able to take her 20 years of experience as a mortgage banker and lay down some text (LOTS of text) that covered the entirety of what, how and why mortgages work. She was also wicked funny and a genuinely gifted and nice person.

One of Tanta’s best (of many) posts came in a series that would ultimately be labeled, The Compleat UberNerd. It was a brilliant succession of posts about all things mortgages. From mortgage servicing to Mortgage Backed Securities, REOs and Foreclosures to mortgage insurance and credit scores, if you read through all these posts you will find yourself with a better understanding of mortgage financing than probably 95% of the population—which likely includes your mortgage lender.

I’ve been meaning to link to these posts for a long time. Tanta left us way, way too early. But her legacy lives on through her writing and instruction.

For your education, here are the UberNerd posts. Rest in Peace Tanta.

The UberNerd Collection:

Mortgage Servicing

Negative Amortization

FICOs and AUS (Credit scores and Automated Underwriting Systems)

Private Mortgage Insurance I

Private Mortgage Insurance II

Foreclosure and REO

MBS I (Mortgage-backed securities)

MBS II

MBS III

Delinquency and Default

Reverse Mortgages

Leverage, Ratings, and Forced Unwind

Mortgage Origination Channels

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About the Author
Jay Thompson

I'm a real estate broker in Phoenix, Arizona and the publisher of the Phoenix Real Estate Guy blog. I tend to drive too fast and scream at the University of Texas and Denver Broncos football teams. My two kids are smarter than most adults I know and my wife is simply amazing.

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All my condolences go out to the entire family that has been forced to suffer this great loss. We all loved her posts and I'm sure I'm not the only one who can say that her words have been a major inspiration in all of our lives. This situation proves that this horrible sickness continues to take the most thoughtful, warm hearted, devoted, and funny people away from us. Doris, you are and forever will be missed dearly.

It is really an irreparable loss. Let her soul rest in peace.It's my fortune to come accross such a post.Really,I appreciate the idea of making a blog in the memorization of such a great personality.

**David from MortgageFit Community´s last blog post..My home was sold without informing me of forclosure.</abbr></abbr>

Jay-what a wonderful way to share her memory. She certainly had a wonderful way of connecting to her readers and sharing her wealth of knowledge with everyone. I am so sad to hear she passed.

**Leon Belenky-One Bal Harbour Condo Expert´s last blog post..Sayan Sunny Isles - Proximity to Wonder</abbr></abbr>

I'm sorry for your loss. She sounds like a lovely person. I'll be reading her writings. Thanks for telling us about her.

**Todd´s last blog post..Where does the time go?</abbr></abbr>

Sad news to share, may her words live on and help others learn from what she has left behind, from all of her hard work. Untimely deaths seem to be such a waste for all concerned.

Regards,

Cheryl Beckham

**Cheryl Beckham´s last blog post..Oh Baby it’s Cold Outside</abbr></abbr>

We're sorry for your loss, that truly is a horrible disease.

**dave´s last blog post..Manhattan Rental Rates Fall Again</abbr></abbr>

That's a real shame looks like a very nice informative blog. Cancer is a nasty disease, I wish they would come up with a cure for it.

**Joe´s last blog post..How to Clean the Dust out of your Computer</abbr></abbr>

Jay -

I'm sorry for your loss. What a year this has been. Thank you for taking the time to share this story and Tanta's work. Like Paul, I wasn't introduced to her work before her death, but feel like her memory will be honored through the legacy she left behind.

Thanks for highlighting these, Jay. Though I never came across Tanta before this tragedy struck, I look forward to learning a few new things from her writing.

My condolences go out to Doris' family, as I know this is a tough time for them. Thanks for taking the time to pull all these articles together for us; it will make for great reading.

**aaron´s last blog post..10 Best Digital TV Converters</abbr></abbr>

Condolences. Those are great articles. Haven't read them all but will be making a point to soon.

**Spanish Classes Tempe´s last blog post..Kids foreign language classes</abbr></abbr>

Tanta's wit and wisdom was priceless. Nice tribute.

**howard´s last blog post..President Bush helps housing industry</abbr></abbr>

Jay,

This is a lovely tribute. I love the idea of a blog as a memorial of what someone shared with those who loved her. I am going to make a point of reading the posts you've linked to here and hope that you find a way to keep these links here for us to come back to again and again.

I actually came across your blog via my ramblings over in Greg Swann's neck of the woods at Bloodhound Blog. Thought it was time I stopped by. I'm glad I did.

Blessings to you and your family this holiday season and on into the New Year...

**Kevin Sandridge´s last blog post..Lakeland’s Mid-Florida Federal Credit Union Enters the Real Estate Business

All my condolences go out to the entire family that has been forced to suffer this great loss. We all loved her posts and I'm sure I'm not the only one who can say that her words have been a major inspiration in all of our lives. This situation proves that this horrible sickness continues to take the most thoughtful, warm hearted, devoted, and funny people away from us. Doris, you are and forever will be missed dearly.

It is really an irreparable loss. Let her soul rest in peace.It's my fortune to come accross such a post.Really,I appreciate the idea of making a blog in the memorization of such a great personality.

**David from MortgageFit Communityu00c2u00b4s last blog post..My home was sold without informing me of forclosure.</abbr></abbr>

I just got through reading the first few articles and they are excellent. Highly recommended reading.

Jay-what a wonderful way to share her memory. She certainly had a wonderful way of connecting to her readers and sharing her wealth of knowledge with everyone. I am so sad to hear she passed.

**Leon Belenky-One Bal Harbour Condo Expertu00c2u00b4s last blog post..Sayan Sunny Isles - Proximity to Wonder</abbr></abbr>

I'm sorry for your loss. She sounds like a lovely person. I'll be reading her writings. Thanks for telling us about her.

**Toddu00c2u00b4s last blog post..Where does the time go?</abbr></abbr>

Sad news to share, may her words live on and help others learn from what she has left behind, from all of her hard work. Untimely deaths seem to be such a waste for all concerned.

Regards,

Cheryl Beckham

**Cheryl Beckhamu00c2u00b4s last blog post..Oh Baby itu00e2u0080u0099s Cold Outside</abbr></abbr>

We're sorry for your loss, that truly is a horrible disease.

**daveu00c2u00b4s last blog post..Manhattan Rental Rates Fall Again</abbr></abbr>

That's a real shame looks like a very nice informative blog. Cancer is a nasty disease, I wish they would come up with a cure for it.

**Joeu00c2u00b4s last blog post..How to Clean the Dust out of your Computer</abbr></abbr>

Jay -

I'm sorry for your loss. What a year this has been. Thank you for taking the time to share this story and Tanta's work. Like Paul, I wasn't introduced to her work before her death, but feel like her memory will be honored through the legacy she left behind.

Thanks for highlighting these, Jay. Though I never came across Tanta before this tragedy struck, I look forward to learning a few new things from her writing.

My condolences go out to Doris' family, as I know this is a tough time for them. Thanks for taking the time to pull all these articles together for us; it will make for great reading.

**aaronu00c2u00b4s last blog post..10 Best Digital TV Converters</abbr></abbr>

Condolences. Those are great articles. Haven't read them all but will be making a point to soon.

**Spanish Classes Tempeu00c2u00b4s last blog post..Kids foreign language classes</abbr></abbr>

Tanta's wit and wisdom was priceless. Nice tribute.

**howardu00c2u00b4s last blog post..President Bush helps housing industry</abbr></abbr>

Jay,

This is a lovely tribute. I love the idea of a blog as a memorial of what someone shared with those who loved her. I am going to make a point of reading the posts you've linked to here and hope that you find a way to keep these links here for us to come back to again and again.

I actually came across your blog via my ramblings over in Greg Swann's neck of the woods at Bloodhound Blog. Thought it was time I stopped by. I'm glad I did.

Blessings to you and your family this holiday season and on into the New Year...

**Kevin Sandridgeu00c2u00b4s last blog post..Lakelandu00e2u0080u0099s Mid-Florida Federal Credit Union Enters the Real Estate Business

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