Is it ALT-A turn

[farbet]

Lift a rock, find more schlock
I believe the next area of the credit sector to implode will likely be Alt-A — loans granted to people who didn’t want to document their income, also known as liar loans — which will help illuminate the fact that our mortgage problems were never just subprime. Rather, they sprang from one big credit bubble, thanks to which mortgages were handed out to anyone who could fog a mirror. Most people took on more than they should have. (Some are now walking away from their obligations, a development recently highlighted in the media.)

In time, it will be clear that prime mortgages are also vulnerable….

[farbet]

The rest is here

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/NextShoeToDropPrimeMortgages.aspx

[farbet]

The rest is here

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/NextShoeToDropPrimeMortgages.aspx

[farbet]

The rest is here

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/NextShoeToDropPrimeMortgages.aspx

[farbet]

The rest is here

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/NextShoeToDropPrimeMortgages.aspx

[farbet]

The rest is here

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/NextShoeToDropPrimeMortgages.aspx

[Mean Reversion]

I believe the next area of the credit sector to implode will likely be Alt-A…

If you follow the credit markets, it is already pretty well known that the meltdown has affected Alt-A and beyond, not just subprime.

Witness Thornburg Mortgage (TMA) which supposedly had no direct exposure to subprime mortgages.

[Mean Reversion]

I believe the next area of the credit sector to implode will likely be Alt-A…

If you follow the credit markets, it is already pretty well known that the meltdown has affected Alt-A and beyond, not just subprime.

Witness Thornburg Mortgage (TMA) which supposedly had no direct exposure to subprime mortgages.

[Mean Reversion]

I believe the next area of the credit sector to implode will likely be Alt-A…

If you follow the credit markets, it is already pretty well known that the meltdown has affected Alt-A and beyond, not just subprime.

Witness Thornburg Mortgage (TMA) which supposedly had no direct exposure to subprime mortgages.

[Mean Reversion]

I believe the next area of the credit sector to implode will likely be Alt-A…

If you follow the credit markets, it is already pretty well known that the meltdown has affected Alt-A and beyond, not just subprime.

Witness Thornburg Mortgage (TMA) which supposedly had no direct exposure to subprime mortgages.

[Mean Reversion]

I believe the next area of the credit sector to implode will likely be Alt-A…

If you follow the credit markets, it is already pretty well known that the meltdown has affected Alt-A and beyond, not just subprime.

Witness Thornburg Mortgage (TMA) which supposedly had no direct exposure to subprime mortgages.

[peterb]

With about $550B in mortgages set to adjust this year, all sectors will have trouble meeting this requirement. Whether the loan is Prime, Alt-A or subprime. Having a high FICO score does not mean you didnt lie about your “stated income”. Most of these loans are 1 to 3 years old, so the odds are good that most are upside down at or at best 0$ equity. Combine this with a recession and the new “Debt Relief Act of 2008” and I think the lenders are going to be owning a lot more realestate this year compared to 2007!

[peterb]

With about $550B in mortgages set to adjust this year, all sectors will have trouble meeting this requirement. Whether the loan is Prime, Alt-A or subprime. Having a high FICO score does not mean you didnt lie about your “stated income”. Most of these loans are 1 to 3 years old, so the odds are good that most are upside down at or at best 0$ equity. Combine this with a recession and the new “Debt Relief Act of 2008” and I think the lenders are going to be owning a lot more realestate this year compared to 2007!

[peterb]

With about $550B in mortgages set to adjust this year, all sectors will have trouble meeting this requirement. Whether the loan is Prime, Alt-A or subprime. Having a high FICO score does not mean you didnt lie about your “stated income”. Most of these loans are 1 to 3 years old, so the odds are good that most are upside down at or at best 0$ equity. Combine this with a recession and the new “Debt Relief Act of 2008” and I think the lenders are going to be owning a lot more realestate this year compared to 2007!

[peterb]

With about $550B in mortgages set to adjust this year, all sectors will have trouble meeting this requirement. Whether the loan is Prime, Alt-A or subprime. Having a high FICO score does not mean you didnt lie about your “stated income”. Most of these loans are 1 to 3 years old, so the odds are good that most are upside down at or at best 0$ equity. Combine this with a recession and the new “Debt Relief Act of 2008” and I think the lenders are going to be owning a lot more realestate this year compared to 2007!

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