The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: DuckTapeSunroof who wrote (2481)	12/2/2008 4:41:46 PM
From: H-Man	1 Recommendation Read Replies (1) of 103300

What is funny is that you would try to quote mortgage stats to a banker. The subprime default rate is currently 17.85% mortgagebankers.org The generally accepted measurement in the mortgage industry is that a loan is in default when it becomes seriously delinquent (+90 days past due) or in foreclosure though technically many loans can be declared in default when a payment is +30 days late. The New York Times quoted 24%, earlier this year, apparently using the MBA +30 day measurement for 2007 nytimes.com So when you said 95% of loans were performing, were you lying or just uniformed?

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