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Sanjiv Das : A tale of two Das: Citi CEO, academic, and mortgages : Reuters
Wednesday, Feb. 24, 2010
When the mortgage crisis hit in 2008, Finance professor Sanjiv Ranjan Das began receiving e-mails meant for CitiMortgage CEO Sanjiv Ranjan Das, leader of the fourth largest housing lender in the U.S. and holder of $723 billion in mortgages. The Santa Clara University professor's work included analysis and modeling of such financial problems as underwater mortgages--those homes whose mortgage was worth more than the market value of the properties, and casual Internet researchers had confused the two.
The pair finally met in New York last fall, and SCU's Das shared some of his research with Citi's Das--including his conclusion that lenders would succeed in the long-term if they reduced principal on mortgages rather than modifying interest rates or loan terms, forestalling those mortgagees who might walk away from a house in a 'strategic default.'
Read more about the two Das in Reuters online article of February 24 >>