The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: mishedlo who wrote (25536)	12/1/2004 5:55:47 AM
From: daffodil	Read Replies (1) of 306849

Thanks, Mish! This is very helpful, since I'm old enough to remember when $100,000 was a "jumbo" loan! I just figured it out: CFC securitizes and acts as a b/d for their own (and others') loans. The Mortgage Banking segment originates, purchases, securitizes and services mortgage loans in the United States. The Capital Markets segment operates as an institutional broker-dealer that primarily specializes in trading and underwriting mortgage-backed securities. So, essentially, they're able to keep the risks they want, and pass along the risks they don't want to keep not only to the government and quasi-government, but to institutional and retail investors directly and indirectly. Brilliant. This explains why: NEW YORK, Nov 29 (Reuters) - Morgan Stanley on Monday raised its rating on Countrywide Financial Corp. (CFC.N: Quote, Profile, Research) to "overweight" from "equal weight." I think I'll keep watching the puts while I continue to try to figure out where they're vulnerable to a credit implosion, though. }=>------->>>>

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