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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 (69208)	8/31/2006 6:40:11 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

<they can turn around and sell these loans as "scratch and dents" for just 15% hit?> Yes, thought the same thing. They reserved about 6% of all that quarter's (1st I believe?) production. There's still this underlying feeling that all junk recovers apparently, and that housing will bounce back, and save the bad eggs, so some Risklove will overpay for for it, amazing. It's going to be real interesting to see what July and August notice of defaults look like. Notice HRB;s emphasis on how the market changed in July? 2nd quarter problems were surging, must be going ballistic now? msnbc.msn.com I really wonder about all the Alt-a "investors" that hold these expensive empty condos in places like Florida and San Diego? I've always been highly skeptical of that mortgage regardless of the status of the borrower. 70 for sale of 409 units, and a couple dozen for rent. johnsabia.com