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

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To: ild who wrote (48465)	12/30/2005 1:34:50 PM
From: Ramsey Su	Read Replies (1) of 110194

Ild, I don't know the answer and I don't know if there is an answer. Defaults are usually defined as the second stage of delinquency - default - foreclosure. "Default", in other words, is when the notice of default is filed. While you may have exact times for the obvious, such as 30 days, 60 days delinquent, notice of defaults have no set time. Up till now, I am guessing that many delinquencies are cured via sale or refinance so they never move into the default stage. That is why I am somewhat "disappointed" to see the a stable default for Nov in the MICA data. Ramsey

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