Is it ALT-A turn

[cr]

Yes ALT-A were the No Income, No Job, or Asset loans that helped coin the phrase “if you can fog a mirror, you can get a loan.”

I think they basically assume the people applying for them have good credit. The alt refers to them being “alternative”.

In other words they’re gay.

Seriously though, the default rate on these could be worse than sub-prime. Realtors/brokers would say these are for people with fluctuating incomes like actors or entrepreneurs, but not in recent years. Unless you replace actor with teacher, and entrepreneur with house wife.

[farbet]

I guess we will start seeing “walk Aways” soon

[farbet]

I guess we will start seeing “walk Aways” soon

[farbet]

I guess we will start seeing “walk Aways” soon

[farbet]

I guess we will start seeing “walk Aways” soon

[farbet]

I guess we will start seeing “walk Aways” soon

[DWCAP]

I have a dumb question, but how acurate is the reset chart we always refer to? March 08 seems to be the biggest month for resets, so in theory shorts, defaults and prefoclosures in June/July should be jumping. But how many of these March resets are already paid off? If a morgage was orginated in March of 2005 for a reset in March of 2008, but was paid out when the house was sold in Feb 2007 (assuming it was paid in full) is the reset still counted?
I guess what I am wondering is what the refinancing binges of early 08 will do to the resets. Is the reset still counted in all those charts and graphs we use to justify our position, even though the morgage is paid and no reset will ever be seen?

[DWCAP]

I have a dumb question, but how acurate is the reset chart we always refer to? March 08 seems to be the biggest month for resets, so in theory shorts, defaults and prefoclosures in June/July should be jumping. But how many of these March resets are already paid off? If a morgage was orginated in March of 2005 for a reset in March of 2008, but was paid out when the house was sold in Feb 2007 (assuming it was paid in full) is the reset still counted?
I guess what I am wondering is what the refinancing binges of early 08 will do to the resets. Is the reset still counted in all those charts and graphs we use to justify our position, even though the morgage is paid and no reset will ever be seen?

[DWCAP]

I have a dumb question, but how acurate is the reset chart we always refer to? March 08 seems to be the biggest month for resets, so in theory shorts, defaults and prefoclosures in June/July should be jumping. But how many of these March resets are already paid off? If a morgage was orginated in March of 2005 for a reset in March of 2008, but was paid out when the house was sold in Feb 2007 (assuming it was paid in full) is the reset still counted?
I guess what I am wondering is what the refinancing binges of early 08 will do to the resets. Is the reset still counted in all those charts and graphs we use to justify our position, even though the morgage is paid and no reset will ever be seen?

[DWCAP]

I have a dumb question, but how acurate is the reset chart we always refer to? March 08 seems to be the biggest month for resets, so in theory shorts, defaults and prefoclosures in June/July should be jumping. But how many of these March resets are already paid off? If a morgage was orginated in March of 2005 for a reset in March of 2008, but was paid out when the house was sold in Feb 2007 (assuming it was paid in full) is the reset still counted?
I guess what I am wondering is what the refinancing binges of early 08 will do to the resets. Is the reset still counted in all those charts and graphs we use to justify our position, even though the morgage is paid and no reset will ever be seen?

[DWCAP]

I have a dumb question, but how acurate is the reset chart we always refer to? March 08 seems to be the biggest month for resets, so in theory shorts, defaults and prefoclosures in June/July should be jumping. But how many of these March resets are already paid off? If a morgage was orginated in March of 2005 for a reset in March of 2008, but was paid out when the house was sold in Feb 2007 (assuming it was paid in full) is the reset still counted?
I guess what I am wondering is what the refinancing binges of early 08 will do to the resets. Is the reset still counted in all those charts and graphs we use to justify our position, even though the morgage is paid and no reset will ever be seen?

[(former)FormerSanDiegan]

DWCAP – To some extent the reset charts are obsolete soon after they are created. The profile of loans out there will presumably constantly shift due to property sales, refinance activity, early re-sets (due to negative amortization), etc. However, with property values generally declining I doubt that huge segments of these loans have been completely worked out.

[(former)FormerSanDiegan]

DWCAP – To some extent the reset charts are obsolete soon after they are created. The profile of loans out there will presumably constantly shift due to property sales, refinance activity, early re-sets (due to negative amortization), etc. However, with property values generally declining I doubt that huge segments of these loans have been completely worked out.

[(former)FormerSanDiegan]

DWCAP – To some extent the reset charts are obsolete soon after they are created. The profile of loans out there will presumably constantly shift due to property sales, refinance activity, early re-sets (due to negative amortization), etc. However, with property values generally declining I doubt that huge segments of these loans have been completely worked out.

[(former)FormerSanDiegan]

DWCAP – To some extent the reset charts are obsolete soon after they are created. The profile of loans out there will presumably constantly shift due to property sales, refinance activity, early re-sets (due to negative amortization), etc. However, with property values generally declining I doubt that huge segments of these loans have been completely worked out.

[Author]

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