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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (347160)	11/1/2007 9:35:40 PM
From: stan_hughes	Read Replies (2) \| Respond to of 436258

Looks to me like Block lost its loan warehouse facility (no surprise) and had to scramble to substitute new loan agreements to cope with contractual obligations already in the pipeline when their warehousing line got yanked The quantum of those obligations appears to have been about 1/3 of their previous maximum line (750MM vs. 2.25B), which BofA continued to extend on altered terms -- so BofA didn't cut them off completely, but still may as of June 2008. UBS and DB however are now out of the loop. The Citi facility is chump change so I didn't really examine it A refund of the amount paid for this quick analysis will be cheerfully refunded if you are not completely satisfied with it