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Non-Tech : Banks--- Betting on the recovery -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (496)	5/11/2009 2:21:22 PM
From: tejek	Read Replies (1) \| Respond to of 1428

Just listened to Ambac's CC (ABK). They stated that up to 90% of all reviewed originated loans (11,000 loans reviewed) they insured violated Reps and Warranties, thus negating their legal liability to pay the claims. Apparently, the market is liking the CC......ABK is up 20%. I think I will listen to the CC later.

To: Hawkmoon who wrote (496)	5/11/2009 6:50:36 PM
From: Petz	Read Replies (2) \| Respond to of 1428

Hawkmoon, were these mortgage insurance policies for homes, or commercial real estate? Or are these the policies whose premiums are paid for by the homeowners themselves. Pretty much everyone who buys a house with less than 20% equity is forced to buy "mortgage insurance." That was true 5 years ago, but the minimum equity percentage might have gone up since then. I never understood why the banks didn't just raise the interest rate if the percentage equity was too low. Petz