Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: bart13 who wrote (79912)	3/12/2007 3:55:14 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 110194

MORE ON COUTRYWIDE (rumor at this point since this is a message board): "Countrywide told its brokers Friday to stop offering borrowers the option of taking out a mortgage without a down payment, according to a document obtained by Reuters" I just looked at the matrix. Max CLTV for any score or doc type subprime is 90%. by Kyle@CreveCor March 12, 2007 -------------------------------------------------------------------------------- my rep says they got rid of middle management. and cutting reps from 9 to 4. said a 80/20 the first will have a rate of around 10%. hang on ya´ll by diva for loans March 12, 2007 -------------------------------------------------------------------------------- I was an AE with them....I was let go as of this morning. From what I understand, about 70% of the outside sales force was fired today. On top of that a lot of the middle management was fired as well. Next step will of course be Ops staff. Not sure if they´ll stick around or not...but they will be much smaller than before. by MakinDreams March 12, 2007 -------------------------------------------------------------------------------- What center did you work out of? by WholesaleSolutions March 12, 2007 -------------------------------------------------------------------------------- Richardson, TX was my processing center. by MakinDreams March 12, 2007 -------------------------------------------------------------------------------- Can´t get a subprime rate sheet from their site right now. by Wee Todd Ed March 12, 2007