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

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To: ild who wrote (22135)11/20/2004 5:20:30 PM
From: George K.  Read Replies (1) of 110194
 
Regarding Fannie and ARMS

The percentage of ARMS is terribly misleading. A better source is the title insurance industry which has statistics on income from the adjustable rate endorsement that is added to title ins. policies. A figure I received from First American (NYSE:FAF)about 60 days ago was in the mid-30% ARMSs and expected to stay there the rest of the year.

The article is correct that many banks are keeping loans inhouse now. I am not sure on the reasons for that though one of the big factors in my area is that many are construction loans.

Geo.
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