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

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To: YanivBA who wrote (69202)	8/31/2006 3:43:01 PM
From: Ramsey Su	Read Replies (2) of 110194

biz.yahoo.com this should be worth listening to. One of shockers that I think I am seeing is the magnitude of the losses on a per loan basis. I am in the process of looking at a selection of loans in default, as well as loans that have already been foreclosed upon to see if I can determine the percentage loss. Right now, I am of the opinion that the reserves set aside by HRB, IMH, LEND, FMT, FHN (all recently in the news) are inadequate, but I will have a much better idea when I am done. What surprised me today was that I read 45-50% of all subprime loans were originated in two states - CA and FL.

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