Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: smolejv@gmx.net who wrote (29130)	2/24/2003 11:44:48 AM
From: Jim Willie CB	Read Replies (4) of 74559

I believe the concentration of debt in GSE's produces a focal point for the credit cancer it is unregulated the portfolios cannot legally be audited in detail THIS IS SOCIALIZED MORTGAGE CREDIT the good part for analysts is that FNM share price will provide a solid forward indicator of distress over the weekend, I had the pleasure to speak with the older brother of a friend the guy has numerous properties in the greater WashDC area in Virginia he said the FannyMae system has gone amok, for sure and big trouble lies ahead he is aware of rising Fanny rates for cashout REFI's he expects higher rates from Fanny soon across the board he is an attorney with experience scooping up foreclosed properties his greatest concern is underfunding of state pensions he said it is now in a crisis stage / jim

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