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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 (50223)	1/19/2006 12:01:08 PM
From: russwinter	Respond to of 110194

aren't FCBs typically buying the AAAAAAAAAAAA tranches?> Seems like about everything is rated and packaged AAA, very low hurdle.

To: Ramsey Su who wrote (50223)	1/19/2006 12:13:10 PM
From: ild	Read Replies (2) \| Respond to of 110194

Looking at RDN numbers: Percentage of loans in default is going up. Reserves for losses is going down. Company uses most of earnings on share buybacks. December 31 December 31 2005 2004 Default Statistics Primary insurance: Total Primary Insurance Prime Number of insured loans 567,574 610,480 Number of loans in default 20,685 19,434 Percentage of loans in default 3.64% 3.18% Alt A Number of insured loans 118,336 128,010 Number of loans in default 7,510 8,339 Percentage of loans in default 6.35% 6.51% A Minus and below Number of insured loans 101,414 104,672 Number of loans in default 16,015 12,678 Percentage of loans in default 15.79% 12.11% Total Primary Insurance Number of insured loans 787,324 843,162 Number of loans in default 44,210(1) 40,451 Percentage of loans in default 5.62% 4.80% Pool insurance: Number of insured loans 651,051 583,568 Number of loans in default 10,194(2) 6,749 Percentage of loans in default 1.57% 1.16% Anything interesting on the CC?