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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (79267)2/24/2007 6:48:22 PM
From: Ramsey Su  Read Replies (4) of 110194
 
Russ,

for the record, that Prof Pigg piece was written back in January 28. As we all know, a lot had happened since then.

I am also finding the public forums such as SI increasingly unsuitable for my long rants. So I have been just sending out emails to a list of friends, acquaintances and people in the business. I believe that with a private forum, I can speak more freely without having to verify every detail and be somehow accountable for the accuracy of my statements. Many here are on the email list directly or indirectly with an unspoken agreement of not posting it on public forums without my knowing about it first. Furthermore, proper English and grammar is not natural to me. It takes too much time for me to edit what I wrote. As for the foreclosure piece, my friend Prof Pigg thought that email was pretty good (I think he meant my grammar <ggggg>) and should be posted, so that was how it became public.

Regarding MBAA, while what your friend in Oregon said may be true, it would still be a one time phenomenon resulting from a sudden change of underwriting guidelines. I have been trying to track down whether escrow cancellations (both purchase and refi escrows) are higher than normal right now but so far my sources proved to be fruitless. Logically, this would be just a bump and no long term impact to the value of the MBAA index.

Ramsey
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