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

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To: ild who wrote (46809)	12/8/2005 12:00:59 PM
From: russwinter	Read Replies (3) of 110194

What a sleazy outfit CFC is. 40% of all loans were IOs and pay option, and one wonders how much of that is just churning existing customers, as 22,835 or 54.4% of the month's business were refis. Still trying to pass off the steady increase in deliquencies as "Katrina", wonder how much longer that dog ate the homework excuse works. Mortgage loan fundings for the month of November were $42 billion: Pay-option loan fundings for the month were $7.9 billion Interest-only loan volume was $8.9 billion Delinquencies in the servicing portfolio rose 26 basis points from October 2005 to 4.58 percent at the end of November

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