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bubba99
ParticipantInteresting that MBIA asked Fitch to stop rating its insurance – and that S+P and Moody’s still have MBIA at an AAA.
Could it be that Fitch is the only rating agency with any integrity?
ParticipantInteresting that MBIA asked Fitch to stop rating its insurance – and that S+P and Moody’s still have MBIA at an AAA.
Could it be that Fitch is the only rating agency with any integrity?
ParticipantJWM,
Quality of collateral is exactly the real issue. Banks, Wall Street Firms et. al. will be able to take in their “crappy” assets, and turn them into cash. If these assets were worth their face value, the new LTCF would not be necessary.
The language I have seen indicates that for now the window will be limited to GSE mortgage paper, but when that fails, crappier assets will creep in – for a lot longer than 28 days.
ParticipantJWM,
Quality of collateral is exactly the real issue. Banks, Wall Street Firms et. al. will be able to take in their “crappy” assets, and turn them into cash. If these assets were worth their face value, the new LTCF would not be necessary.
The language I have seen indicates that for now the window will be limited to GSE mortgage paper, but when that fails, crappier assets will creep in – for a lot longer than 28 days.
ParticipantJWM,
Quality of collateral is exactly the real issue. Banks, Wall Street Firms et. al. will be able to take in their “crappy” assets, and turn them into cash. If these assets were worth their face value, the new LTCF would not be necessary.
The language I have seen indicates that for now the window will be limited to GSE mortgage paper, but when that fails, crappier assets will creep in – for a lot longer than 28 days.
ParticipantJWM,
Quality of collateral is exactly the real issue. Banks, Wall Street Firms et. al. will be able to take in their “crappy” assets, and turn them into cash. If these assets were worth their face value, the new LTCF would not be necessary.
The language I have seen indicates that for now the window will be limited to GSE mortgage paper, but when that fails, crappier assets will creep in – for a lot longer than 28 days.
ParticipantJWM,
Quality of collateral is exactly the real issue. Banks, Wall Street Firms et. al. will be able to take in their “crappy” assets, and turn them into cash. If these assets were worth their face value, the new LTCF would not be necessary.
The language I have seen indicates that for now the window will be limited to GSE mortgage paper, but when that fails, crappier assets will creep in – for a lot longer than 28 days.
ParticipantRead the attached link, and I cannot believe it.
What are these folks smoking. The article is short on details like what is a negative equity certificate?, does it get larger as the morgages gets further underwater?, How does any principal or interest get paid on a negative equity certificate?, Does the FHA guarantee the negitive equity cert?, and . . .
The only thing that is sure is that we the tax payers are left holding the bag for this certificate if it gets created.
ParticipantRead the attached link, and I cannot believe it.
What are these folks smoking. The article is short on details like what is a negative equity certificate?, does it get larger as the morgages gets further underwater?, How does any principal or interest get paid on a negative equity certificate?, Does the FHA guarantee the negitive equity cert?, and . . .
The only thing that is sure is that we the tax payers are left holding the bag for this certificate if it gets created.
ParticipantRead the attached link, and I cannot believe it.
What are these folks smoking. The article is short on details like what is a negative equity certificate?, does it get larger as the morgages gets further underwater?, How does any principal or interest get paid on a negative equity certificate?, Does the FHA guarantee the negitive equity cert?, and . . .
The only thing that is sure is that we the tax payers are left holding the bag for this certificate if it gets created.
ParticipantRead the attached link, and I cannot believe it.
What are these folks smoking. The article is short on details like what is a negative equity certificate?, does it get larger as the morgages gets further underwater?, How does any principal or interest get paid on a negative equity certificate?, Does the FHA guarantee the negitive equity cert?, and . . .
The only thing that is sure is that we the tax payers are left holding the bag for this certificate if it gets created.
ParticipantRead the attached link, and I cannot believe it.
What are these folks smoking. The article is short on details like what is a negative equity certificate?, does it get larger as the morgages gets further underwater?, How does any principal or interest get paid on a negative equity certificate?, Does the FHA guarantee the negitive equity cert?, and . . .
The only thing that is sure is that we the tax payers are left holding the bag for this certificate if it gets created.
ParticipantAside from giving the borrower another 30 days free rent, this only delays the day of reconing for the bank. At some point the lender will need to write the loan to market (Sarbane Oxley Act). You know the act that protects us from more Enrons/Tycos/Worldcoms.
ParticipantAside from giving the borrower another 30 days free rent, this only delays the day of reconing for the bank. At some point the lender will need to write the loan to market (Sarbane Oxley Act). You know the act that protects us from more Enrons/Tycos/Worldcoms.
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