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

To: Ramsey Su who wrote (37571)	8/2/2005 2:40:25 PM
From: russwinter	Respond to of 110194

fine print I can see in those offers is strong FICO needed and lower LTV> Think that's exactly right, and in fact the Fitch report we've been referring, talked about the 2005 vintage year, neg amort concentration. Prime borrowers use Negs at 7% (of all) in 2004, but exploding to 33% in 2005, with huge amounts in Calf. Alt A 2004 was 9% of total in 2004, and 10% in 2005. Subprime is 0. So this appears to be a toxic loan designed for Bully in Calf, not Joe Six. There should be some incredible foreclosures on luxury houses in expensive locations over the next several years. Hit bottom, when, about 2009, 2010? Foreclosures (2003-2004 vintage IOs and Negs) should start next year, with the rollover now.

To: Ramsey Su who wrote (37571)	8/2/2005 3:19:37 PM
From: Wyätt Gwyön	Read Replies (2) \| Respond to of 110194

The only fine print I can see in those offers is strong FICO needed and lower LTV. isn't a strong FICO just an absence of bad credit, or lots of existing credit? if you are 22 yrs old and just starting to work, but have no credit card or other consumer debt, wouldn't you have a strong FICO? or, if you are a homeless person with zero debt (ahead of most Americans), wouldn't you have a strong FICO? as for achieving a better LTV, are there any shortcuts here? i mean, can you get a kickback from the seller? something like, demanding 5% cash rebate for "repairs", and then using this 5% cash as the downpayment? or, just going to one of those builders who gives away free down payments to improve "affordability". what is the percentage of option ARMs in CA and other wacko zones now? was it something like 40-50% last year?