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

To: sciAticA errAticA who wrote (65751)	7/10/2006 5:31:30 PM
From: Perspective	Read Replies (1) \| Respond to of 110194

Did you read that whole article? Scary talk in there. I didn't realize that these 0-down loans and HELOCs were recourse loans. Don't know who's gonna be in worse shape - the banks that pushed the aggressive loans, or the poor saps that they're going to try to wring every last dime out of. BC

To: sciAticA errAticA who wrote (65751)	7/10/2006 6:54:16 PM
From: Ramsey Su	Read Replies (4) \| Respond to of 110194

investorrelations.ncen.com I am guessing that a big chunk of the $16.2 billion here are refinances. Yes, for a state like California, they are not purchase money loans and are treated differently. I would bet that any of these subprime lenders will try to extract the last drop of blood from their borrowers. Another subprime lender just securitized a batch here. biz.yahoo.com Notice this part: NovaStar also retained the class C certificates. Class C has a notional amount of $1,094,500,000, entitles NovaStar to excess and prepayment penalty fee cash flow from the underlying loan collateral, and serves as overcollateralization. These blood suckers get the poor borrowers coming and going.