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To: reaper who wrote (145712)	1/23/2002 6:29:33 PM
From: Tradelite	Read Replies (1) \| Respond to of 436258

reaper, the government wants to make it possible for people to buy homes. Voila....we have Fannie & Freddie and a tax deduction on mortgage interest--the last remaining type of interest anyone can deduct from their tax bill, since they disallowed credit card interest. As soon as there is a credit crash and all the bad stuff happens that you seem to believe will happen, you let me know. By the way, are you invested in mortgage-backed securities? They've been doing quite well for their investors.

To: reaper who wrote (145712)	1/23/2002 6:38:48 PM
From: patron_anejo_por_favor	Respond to of 436258

<<I suggest you have a look at the financial statements of the private mortgage insurance companies (MGIC, PMI, Triad, Radian). These companies' book of business is growing like a weed. I am sure you know as a broker that you don't need PMI unless you put less than 20% down.>> Excellent points, and these companies will be among the best performing shorts in 2002-2003, IMO. It's the perfect storm...falling originations as long term rates rise, coupled with rising defaults due to unemployment/asset deflation. EDIT: Specifically, RDN and MTG look toppy right now! stockcharts.com[h,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9] stockcharts.com[h,a]daclyyay[pb50!b200][vc60][iUb14!La12,26,9]