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

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To: loantech who wrote (45011)	11/8/2005 12:18:08 PM
From: mishedlo	Read Replies (6) of 110194

Saxon Capital, Inc. Reports Third Quarter 2005 Operating Results home.businesswire.com "During the third quarter, we continued to see the unfavorable market conditions that we discussed in the second quarter", said Michael L. Sawyer, Chief Executive Officer of Saxon. "The continued rise in short-term interest rates, and accelerated prepayment speeds, coupled with the extended period of muted market pricing increases continue to adversely effect our results. We remain committed to prudent management through these times, concentrating on reducing general and administrative expenses, growing our centralized retail origination platform, focusing on capital preservation, and ensuring a strong balance sheet." Loantech, Russ, or Ramsey (or anyone)... Didn't we just see elsewhere a reduction in prepayments due to rising yields? What am I missing? Mish

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