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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (166245)	11/21/2008 9:44:42 PM
From: patron_anejo_por_favor	Respond to of 306849

Wow, that one took forever..... Pretty active haul on Bank Failure Friday, 3 so far and counting.....

To: CalculatedRisk who wrote (166245)	11/22/2008 2:25:00 AM
From: Elroy Jetson	Read Replies (4) \| Respond to of 306849

Who could have predicted that? Downey S&L has all of those perfectly good, No-Doc, 90% Loan to Value, 27-month option-pay at only 1%, home mortgages. Certainly those assets must all still be good. And they considered each loan for up to five hours! Each of these assholes look like a real genius.

To: CalculatedRisk who wrote (166245)	12/10/2008 1:34:51 AM
From: Perspective	Read Replies (1) \| Respond to of 306849

CR, if you get a chance, I'd be curious if you knew anywhere to dig for info on this: calculatedrisk.blogspot.com many existing properties were recently purchased at prices that were based on overly optimistic pro forma income projections. These loans typically included reserves to pay interest until rents increased (like a negatively amortizing option ARM), and it is likely that many of these deals will blow up when the interest reserve is depleted - probably in the 2009-2010 period. Any idea how to research which borrowers used these loans, and who ended up holding them? Thanks for all the great work, `BC