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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Lee who wrote (81342)	4/30/2007 10:26:27 PM
From: TH	of 110194

Hello Lee, I'm also short DSL, but I topped off the tank a few miles back. Did you see this PR today? Hmmm, I can earn the same rate in my savings account as I am paying on my fully amortized loan. Unless I'm interpreting this incorrectly, it would seem that Downey wants to increase their reserves and still offer 100% LTV? Comments? It seems so bizarre to me. GT TH biz.yahoo.com Downey Savings Launches Exclusive 'Home Loan Savings Plan' Monday April 30, 6:00 am ET NEWPORT BEACH, Calif., April 30 /PRNewswire/ -- Downey Savings announced today that it is launching an exclusive, industry-leading, home-savings plan that combines the benefits of a low-cost home loan with a FDIC insured savings account that pays higher returns. Downey's Home Loan Savings Plan is a fully-amortized home loan which gives the borrower the option of opening an insured savings account that pays higher returns. Under the Plan, borrowers will earn the same rate in their Savings Account as the note rate they pay on their home loan -- in an amount of up to 10% of the home loan's balance. Any balance on the Savings Account that exceeds 10% of the home loan balance will earn Downey Savings' normal savings account rate. There are no restrictions on when the customer can deposit or withdraw funds from their Savings Account.

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