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  • October 23, 2008 at 8:42 AM #14269
    34f3f3f
    Participant

    This topic has been a bit conspicuous by it’s absence, and I was wondering if banks are still too busy licking their wounds to think about it. Mr Mortgage puts forward a strong case for concern using fairly official looking stats. Does anyone have any idea whether a) this is still a big problem, b) whether the bail out has addressed it, and c) are banks going to get clobbered again, and if so which ones?

    October 23, 2008 at 9:56 AM #291536
    Aecetia
    Participant

    “Alt-A Loan Resets Continuing Through 2011
    Take a look at the chart below. Taken on its face value alone, we are certainly not out of the woods with regard to mortgage resets.”

    http://commercialwatch.blogspot.com/2008/09/alt-loan-resets-continuing-through-2011.html

    October 23, 2008 at 9:56 AM #291854
    Aecetia
    Participant

    “Alt-A Loan Resets Continuing Through 2011
    Take a look at the chart below. Taken on its face value alone, we are certainly not out of the woods with regard to mortgage resets.”

    http://commercialwatch.blogspot.com/2008/09/alt-loan-resets-continuing-through-2011.html

    October 23, 2008 at 9:56 AM #291887
    Aecetia
    Participant

    “Alt-A Loan Resets Continuing Through 2011
    Take a look at the chart below. Taken on its face value alone, we are certainly not out of the woods with regard to mortgage resets.”

    http://commercialwatch.blogspot.com/2008/09/alt-loan-resets-continuing-through-2011.html

    October 23, 2008 at 9:56 AM #291893
    Aecetia
    Participant

    “Alt-A Loan Resets Continuing Through 2011
    Take a look at the chart below. Taken on its face value alone, we are certainly not out of the woods with regard to mortgage resets.”

    http://commercialwatch.blogspot.com/2008/09/alt-loan-resets-continuing-through-2011.html

    October 23, 2008 at 9:56 AM #291931
    Aecetia
    Participant

    “Alt-A Loan Resets Continuing Through 2011
    Take a look at the chart below. Taken on its face value alone, we are certainly not out of the woods with regard to mortgage resets.”

    http://commercialwatch.blogspot.com/2008/09/alt-loan-resets-continuing-through-2011.html

    October 23, 2008 at 2:19 PM #291785
    capeman
    Participant

    Aecetia- That chart is outdated. The schedule for Alt-A resets has moved forward by about 2 years due to most people paying only minimum payments and triggering principle caps. This chart better represents the situation but since it is a few months old it is probably also outdated. The peak is likely to be sometime mid next year due to the acceleration of resets. That is a big reason why Wachovia and WAMU went down so soon rather than later as they were the big players in this mortgage product space.

    [img_assist|nid=8526|title=Revised Alt-A Reset chart due to Pay Option ARMs|desc=|link=node|align=left|width=400|height=227]

    October 23, 2008 at 2:19 PM #292105
    capeman
    Participant

    Aecetia- That chart is outdated. The schedule for Alt-A resets has moved forward by about 2 years due to most people paying only minimum payments and triggering principle caps. This chart better represents the situation but since it is a few months old it is probably also outdated. The peak is likely to be sometime mid next year due to the acceleration of resets. That is a big reason why Wachovia and WAMU went down so soon rather than later as they were the big players in this mortgage product space.

    [img_assist|nid=8526|title=Revised Alt-A Reset chart due to Pay Option ARMs|desc=|link=node|align=left|width=400|height=227]

    October 23, 2008 at 2:19 PM #292137
    capeman
    Participant

    Aecetia- That chart is outdated. The schedule for Alt-A resets has moved forward by about 2 years due to most people paying only minimum payments and triggering principle caps. This chart better represents the situation but since it is a few months old it is probably also outdated. The peak is likely to be sometime mid next year due to the acceleration of resets. That is a big reason why Wachovia and WAMU went down so soon rather than later as they were the big players in this mortgage product space.

    [img_assist|nid=8526|title=Revised Alt-A Reset chart due to Pay Option ARMs|desc=|link=node|align=left|width=400|height=227]

    October 23, 2008 at 2:19 PM #292143
    capeman
    Participant

    Aecetia- That chart is outdated. The schedule for Alt-A resets has moved forward by about 2 years due to most people paying only minimum payments and triggering principle caps. This chart better represents the situation but since it is a few months old it is probably also outdated. The peak is likely to be sometime mid next year due to the acceleration of resets. That is a big reason why Wachovia and WAMU went down so soon rather than later as they were the big players in this mortgage product space.

    [img_assist|nid=8526|title=Revised Alt-A Reset chart due to Pay Option ARMs|desc=|link=node|align=left|width=400|height=227]

    October 23, 2008 at 2:19 PM #292181
    capeman
    Participant

    Aecetia- That chart is outdated. The schedule for Alt-A resets has moved forward by about 2 years due to most people paying only minimum payments and triggering principle caps. This chart better represents the situation but since it is a few months old it is probably also outdated. The peak is likely to be sometime mid next year due to the acceleration of resets. That is a big reason why Wachovia and WAMU went down so soon rather than later as they were the big players in this mortgage product space.

    [img_assist|nid=8526|title=Revised Alt-A Reset chart due to Pay Option ARMs|desc=|link=node|align=left|width=400|height=227]

    October 23, 2008 at 3:43 PM #292239
    (former)FormerSanDiegan
    Participant

    This is an option ARM chart. Not Alt-A.

    Some people have a hard time distinguishing these. I blame Mr Mortgage because when he talks about alt-A he focuses on the subset of alt-A that includes option ARMs

    Some portion of alt-A loans are option ARMs, but the alt-A universe also includes fixed rate loans, 5/1 ARMs, 5/1 I/O ARMS, etc…

    October 23, 2008 at 3:43 PM #292276
    (former)FormerSanDiegan
    Participant

    This is an option ARM chart. Not Alt-A.

    Some people have a hard time distinguishing these. I blame Mr Mortgage because when he talks about alt-A he focuses on the subset of alt-A that includes option ARMs

    Some portion of alt-A loans are option ARMs, but the alt-A universe also includes fixed rate loans, 5/1 ARMs, 5/1 I/O ARMS, etc…

    October 23, 2008 at 3:43 PM #292232
    (former)FormerSanDiegan
    Participant

    This is an option ARM chart. Not Alt-A.

    Some people have a hard time distinguishing these. I blame Mr Mortgage because when he talks about alt-A he focuses on the subset of alt-A that includes option ARMs

    Some portion of alt-A loans are option ARMs, but the alt-A universe also includes fixed rate loans, 5/1 ARMs, 5/1 I/O ARMS, etc…

    October 23, 2008 at 3:43 PM #291881
    (former)FormerSanDiegan
    Participant

    This is an option ARM chart. Not Alt-A.

    Some people have a hard time distinguishing these. I blame Mr Mortgage because when he talks about alt-A he focuses on the subset of alt-A that includes option ARMs

    Some portion of alt-A loans are option ARMs, but the alt-A universe also includes fixed rate loans, 5/1 ARMs, 5/1 I/O ARMS, etc…

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