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

To: mishedlo who wrote (69412)9/6/2006 2:26:48 PM
From: ild  Read Replies (1) | Respond to of 110194
 
To compensate for the increased credit risk in the home equity portfolio that arises where the combined loan-to-value ratio at origination is greater than 80 percent, the Company typically charges such borrowers a higher rate of interest than would be charged if the combined loan-to-value ratio at origination was less than 80 percent. The Company also buys pool mortgage insurance that insulates it from the risk of default on those home equity loans or lines of credit where the combined loan-to-value ratio at origination is greater than 90 percent.

investors.wamu.com

Who sells that insurance? RDN/MTG?



To: mishedlo who wrote (69412)9/6/2006 3:04:14 PM
From: Ramsey Su  Respond to of 110194
 
Mish,

you need to keep digging.

that is going to hit the fan soon. Write some good pieces and we will be watching you on CNBC.

I am not kidding. I am too busy positioning myself to make a buck or two (hopefully). This earnings season is going to be very explosive. My guess is that within the next few weeks, the qtr end warnings will be coming.

We may or may not get any more opportunities to open positions.

Ramsey


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