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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (37767)8/4/2005 1:45:35 PM
From: russwinter  Read Replies (1) of 110194
 
That's what we've been discussing of late. They are typically 2,3,5 and 7. However, as I've been pointing out, 1. all these loans have clauses that call for regular amortization once the negative amortization reaches 110%, 115, 120, of the initial loan amount, it's not just a the term and 2. the negative amortization clock has already been ticking away on many of these loans as they've ripened. A bunch were put on in early 2004,
idorfman.com
and if the real current interest rate is 6.5%, then the 5.5% neg amortization gets you to the trigger point fairly quickly (2-3 years for new loans, maybe over the next year on many older vintages ).
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