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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 (71187)10/6/2006 2:22:26 PM
From: ridingycurve  Read Replies (1) | Respond to of 110194
 
Actually I didn't understand what First America was proposing. If you could expand on that it would be very helpful.

I didn't mean to infer that all defaulted junior liens would be total losses, but believe the loss experience will be very high (barring PMI). I can't begin to estimate how high because 100% LTV loans were unheard of when I was still working. Obviously the most recent loans will generally be the most exposed to loss.


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