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To: 10K a day who wrote (244781)	6/10/2003 10:05:36 AM
From: 10K a day	Respond to of 436258

i don't really understand mortgage derivatives. Like do you sell an option to write a mortgage at like 6.1 percent...and take that monies and do that like 100 times...and take that monies and like sell a mortgage..and do that like 100 more times....i don't (really)..understand this stuff...i mean seriously...whose takeing the other side of the bet when i refinance my house for the 10th time this year...and betting that housing prices not going to fall...and betting that i won't walk away from my 350K dollar mortgage if the house is only worth 275 and i got a 5K dollar prepayement penalty on my mortgage...and rates just went up and it's all gonna be adjustable now. I don't know. Where can i sell some of these mortgage derivates with the money i just borrow at 3 percent...and who the hell can make sense of it all cause my boss just got fired and they burning his computer as i speak. i think i'm gonna' move to orange county.