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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Ramsey Su who wrote (70956)10/4/2006 6:00:57 PM
From: russwinter  Read Replies (2) of 110194
 
From 3q Credit Suisse report, six purveyors pretty much monopolize mortgage orginations. The following have 53.73% of the $800 billion biz for 06.

CFC 116.6 billion
WFC 116.0
WAMU 52.7
Chase 51.1
CitiMort 48.3
Bankamerica 45.1

Nothing much has changed in subprime other than Wells Fargo taking Ameriquest's place:

WFC in 05: 14.654, in 06: 43,748
Ameriquest in 05: 42.94, in 06: 18.651

CS has a chart showing that HELOCs makes up about 10.0% of total home mortgages, about double ten years ago. It's tied to prime and hasn't been any relief there. Maybe the recent refi boomlet is now trying to clear that up? Will track it, but not much yet. Not sure what CS bases 10% on, but total mortgages are now $10.5 trillion, up over 12% yoy, still smoking, even in the face of declining housing prices:

07/26/2006 453.6
08/02/2006 451.3
08/09/2006 448.1
08/16/2006 448.3
08/23/2006 448.8
08/30/2006 449.1
09/06/2006 448.5
09/13/2006 449.2
09/20/2006 449.8
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