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To: SouthFloridaGuy who wrote (1555)	11/30/2007 10:07:04 AM
From: John Vosilla	Read Replies (1) of 1718

UPDATE 2-US housing-related spreads tighten after plan. NEW YORK, Nov 30 (Reuters) - Credit protection costs fell sharply on housing- and mortgage-related companies on Friday following news that the U.S. Treasury is close to announcing a plan to freeze payments for troubled subprime borrowers. The cost of protecting Washington Mutual's (WM.N: Quote, Profile, Research) debt with credit default swaps fell nearly 73 basis points to about 300 basis points, or $300,000 a year for five years to protect $10 million of debt. Toll Brothers' (TOL.N: Quote, Profile, Research) credit protection costs fell about 24 basis points to about 268 basis points, according to Markit Intraday. Treasury Secretary Henry Paulson discussed the plan at a meeting with top banking regulators and industry representatives on Thursday and is expected to announce details of the proposal as early as Wednesday, sources familiar with the meeting told Reuters. For details see [ID:nN30421799]. Increasing hopes for an interest rate cut by the Federal Reserve also pushed credit protection costs broadly lower on Friday. The main index of investment-grade credit default swaps tightened about 5.5 basis points to about 72.2 basis points, according to Markit Intraday. Fed Chairman Ben Bernanke on Thursday said financial strains had dimmed the outlook for the U.S. economy, signaling an openness to cutting interest rates again. reuters.com OT. REO's usually are listed in MLS and you buy with escrow and title insurance like you would normally buy any home the traditional way..no lien risk on your part

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