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

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To: Ramsey Su who wrote (37653)	8/3/2005 1:30:20 PM
From: russwinter	Read Replies (1) of 110194

I don't think these guys even realize how sleazy they are, probably because it's been so easy. When I think about how the gals at CFC yesterday pushed the MTA index (because it looks better this ten seconds at 2.86%) it galls me. They weren't even clear on what the MTA was based on and had no document defining it. I had to go home and internet search it. Answer: the last twelve 1 year constant maturity Treasury () divided by 12. mortgage-x.com Then the rate is adjusted every month. That's what pay option loans are based on. Further, they admitted CFC was sneaking the margin up. Maybe Tom can confirm of that's the case overall? () Note 2.02 1 CMT for Aug, 2004, and if it's replaced at today's 1 CMT of 3.83, the next month the MTA goes to 3.02 from 2.86. Then if the 1CMT rate stays at today's level it goes to 3.16%, and then in Oct to 3.29%, and so on.

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