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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (24681)3/2/2005 8:44:03 AM
From: loantech  Read Replies (1) of 116555
 
mish great table. That is downright scary that 21% went subprime as I saw another graph somewhere this am that shows something like 90% of subprime loans are ARMS and most of those are two year fixed.

I was a subprime pioneer in 1995. Wrote a lot of fallout mortgages for Norwest which became Wells Fargo. I would contact the people 2-3 years later to bail them out of the subprime. Thing was nobody fixedtheir situations to qualify for a FNMA FDMAC product. With the table you posted I can see the S hitting the fan in 2006 if not sooner.
tom
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