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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jim Fleming who wrote (15926)	6/27/2004 4:13:46 PM
From: ild	Read Replies (2) \| Respond to of 110194

Jim, great website! Although it still didn't explicitly say if the banks that originate what they call "private label MBS" provide the same guarantees that FNM/FRE do for their MBS (payment of principal and interest). Of course in, god forbid, a complete RE meltdown all but US treasury guarantees are worthless. I expect at least minor RE retrenchment and want to understand who is on hook for all jumbo loans that are currently being originated in increasing numbers. With RE median price of $400,000 in So Cal dqnews.com jumbo loans should be over 60% of loan amounts. "Initially, I thought, 'I am not going to play this crazy L.A. game,' " she said. But because she felt her $2,400 rent was going to waste and she wanted to lower her income taxes, she jumped in. After looking for a month, she recently paid $690,000 for an 800-square-foot home in Mar Vista. Vying with five other buyers and being competitive, she went for broke, offering $41,000 over the asking price, and got the house. latimes.com