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jrock
ParticipantHere is the latest data from Bloomberg:
30, 60, 90 day delinquencies + foreclosures + REO = 24.13% of outstanding mortgages
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01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
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Bankruptcy 1.42% 1.40% 1.39% 0.90% 0.82%
of which Prime 0.67% 0.63% 0.63% 0.24% 0.12%
of which Alt-A 1.18% 1.16% 1.14% 0.39% 0.07%
of which Subprime 2.59% 2.59% 2.56% 1.88% 1.90%
Foreclosure 7.94% 7.56% 7.40% 4.50% 1.76%
of which Prime 4.10% 3.71% 3.49% 1.36% 0.34%
of which Alt-A 6.99% 6.55% 6.22% 2.52% 0.61%
of which Subprime 13.31% 12.98% 12.83% 8.80% 3.55%
Real Estate Owned 4.06% 4.10% 4.13% 2.29% 0.66%
of which Prime 1.77% 1.72% 1.67% 0.55% 0.11%
of which Alt-A 2.82% 2.86% 2.88% 1.10% 0.18%
of which Subprime 7.56% 7.71% 7.78% 4.70% 1.37%
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01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
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Delinq. (30,60,90,REO&Fore) 24.13% 23.17% 21.69% 14.43% 7.28%
of which Prime 12.87% 12.08% 10.79% 5.27% 2.22%
of which Alt-A 23.51% 22.49% 20.25% 10.59% 4.45%
of which Subprime 38.88% 37.71% 35.99% 25.77% 12.88%
Delinquency (30 days) 4.18% 4.26% 3.76% 3.29% 2.33%
of which Prime 2.51% 2.60% 2.17% 1.61% 1.05%
of which Alt-A 4.71% 5.05% 4.41% 3.40% 2.40%
of which Subprime 6.05% 6.00% 5.45% 5.13% 3.59%
Delinquency (60 days) 2.64% 2.49% 2.15% 1.79% 0.91%
of which Prime 1.59% 1.45% 1.20% 0.75% 0.26%
of which Alt-A 2.99% 2.90% 2.38% 1.60% 0.61%
of which Subprime 3.83% 3.63% 3.23% 3.03% 1.65%
Delinquency (60+ days) 19.96% 18.91% 17.93% 10.86% 4.45%
of which Prime 10.36% 9.48% 8.63% 3.46% 0.97%
of which Alt-A 18.80% 17.44% 15.84% 7.19% 1.85%
of which Subprime 32.81% 31.69% 30.53% 20.61% 8.79%
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01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
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Delinquency (90 days) 5.31% 4.76% 4.24% 2.28% 1.11%
of which Prime 2.90% 2.59% 2.26% 0.80% 0.24%
of which Alt-A 6.00% 5.13% 4.36% 1.97% 0.44%
of which Subprime 8.06% 7.34% 6.64% 4.04% 2.20%
Delinquency (90+ days) 17.31% 16.42% 15.77% 9.07% 3.54%
of which Prime 8.77% 8.02% 7.43% 2.70% 0.70%
of which Alt-A 15.81% 14.54% 13.46% 5.59% 1.24%
of which Subprime 28.96% 28.05% 27.28% 17.55% 7.13%
========================================================================ParticipantHere is the latest data from Bloomberg:
30, 60, 90 day delinquencies + foreclosures + REO = 24.13% of outstanding mortgages
=========================================================================
01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
=========================================================================
Bankruptcy 1.42% 1.40% 1.39% 0.90% 0.82%
of which Prime 0.67% 0.63% 0.63% 0.24% 0.12%
of which Alt-A 1.18% 1.16% 1.14% 0.39% 0.07%
of which Subprime 2.59% 2.59% 2.56% 1.88% 1.90%
Foreclosure 7.94% 7.56% 7.40% 4.50% 1.76%
of which Prime 4.10% 3.71% 3.49% 1.36% 0.34%
of which Alt-A 6.99% 6.55% 6.22% 2.52% 0.61%
of which Subprime 13.31% 12.98% 12.83% 8.80% 3.55%
Real Estate Owned 4.06% 4.10% 4.13% 2.29% 0.66%
of which Prime 1.77% 1.72% 1.67% 0.55% 0.11%
of which Alt-A 2.82% 2.86% 2.88% 1.10% 0.18%
of which Subprime 7.56% 7.71% 7.78% 4.70% 1.37%
=========================================================================
01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
=========================================================================
Delinq. (30,60,90,REO&Fore) 24.13% 23.17% 21.69% 14.43% 7.28%
of which Prime 12.87% 12.08% 10.79% 5.27% 2.22%
of which Alt-A 23.51% 22.49% 20.25% 10.59% 4.45%
of which Subprime 38.88% 37.71% 35.99% 25.77% 12.88%
Delinquency (30 days) 4.18% 4.26% 3.76% 3.29% 2.33%
of which Prime 2.51% 2.60% 2.17% 1.61% 1.05%
of which Alt-A 4.71% 5.05% 4.41% 3.40% 2.40%
of which Subprime 6.05% 6.00% 5.45% 5.13% 3.59%
Delinquency (60 days) 2.64% 2.49% 2.15% 1.79% 0.91%
of which Prime 1.59% 1.45% 1.20% 0.75% 0.26%
of which Alt-A 2.99% 2.90% 2.38% 1.60% 0.61%
of which Subprime 3.83% 3.63% 3.23% 3.03% 1.65%
Delinquency (60+ days) 19.96% 18.91% 17.93% 10.86% 4.45%
of which Prime 10.36% 9.48% 8.63% 3.46% 0.97%
of which Alt-A 18.80% 17.44% 15.84% 7.19% 1.85%
of which Subprime 32.81% 31.69% 30.53% 20.61% 8.79%
————————————————————————-=========================================================================
01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
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Delinquency (90 days) 5.31% 4.76% 4.24% 2.28% 1.11%
of which Prime 2.90% 2.59% 2.26% 0.80% 0.24%
of which Alt-A 6.00% 5.13% 4.36% 1.97% 0.44%
of which Subprime 8.06% 7.34% 6.64% 4.04% 2.20%
Delinquency (90+ days) 17.31% 16.42% 15.77% 9.07% 3.54%
of which Prime 8.77% 8.02% 7.43% 2.70% 0.70%
of which Alt-A 15.81% 14.54% 13.46% 5.59% 1.24%
of which Subprime 28.96% 28.05% 27.28% 17.55% 7.13%
========================================================================ParticipantHere is the latest data from Bloomberg:
30, 60, 90 day delinquencies + foreclosures + REO = 24.13% of outstanding mortgages
=========================================================================
01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
=========================================================================
Bankruptcy 1.42% 1.40% 1.39% 0.90% 0.82%
of which Prime 0.67% 0.63% 0.63% 0.24% 0.12%
of which Alt-A 1.18% 1.16% 1.14% 0.39% 0.07%
of which Subprime 2.59% 2.59% 2.56% 1.88% 1.90%
Foreclosure 7.94% 7.56% 7.40% 4.50% 1.76%
of which Prime 4.10% 3.71% 3.49% 1.36% 0.34%
of which Alt-A 6.99% 6.55% 6.22% 2.52% 0.61%
of which Subprime 13.31% 12.98% 12.83% 8.80% 3.55%
Real Estate Owned 4.06% 4.10% 4.13% 2.29% 0.66%
of which Prime 1.77% 1.72% 1.67% 0.55% 0.11%
of which Alt-A 2.82% 2.86% 2.88% 1.10% 0.18%
of which Subprime 7.56% 7.71% 7.78% 4.70% 1.37%
=========================================================================
01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
=========================================================================
Delinq. (30,60,90,REO&Fore) 24.13% 23.17% 21.69% 14.43% 7.28%
of which Prime 12.87% 12.08% 10.79% 5.27% 2.22%
of which Alt-A 23.51% 22.49% 20.25% 10.59% 4.45%
of which Subprime 38.88% 37.71% 35.99% 25.77% 12.88%
Delinquency (30 days) 4.18% 4.26% 3.76% 3.29% 2.33%
of which Prime 2.51% 2.60% 2.17% 1.61% 1.05%
of which Alt-A 4.71% 5.05% 4.41% 3.40% 2.40%
of which Subprime 6.05% 6.00% 5.45% 5.13% 3.59%
Delinquency (60 days) 2.64% 2.49% 2.15% 1.79% 0.91%
of which Prime 1.59% 1.45% 1.20% 0.75% 0.26%
of which Alt-A 2.99% 2.90% 2.38% 1.60% 0.61%
of which Subprime 3.83% 3.63% 3.23% 3.03% 1.65%
Delinquency (60+ days) 19.96% 18.91% 17.93% 10.86% 4.45%
of which Prime 10.36% 9.48% 8.63% 3.46% 0.97%
of which Alt-A 18.80% 17.44% 15.84% 7.19% 1.85%
of which Subprime 32.81% 31.69% 30.53% 20.61% 8.79%
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01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
=========================================================================
Delinquency (90 days) 5.31% 4.76% 4.24% 2.28% 1.11%
of which Prime 2.90% 2.59% 2.26% 0.80% 0.24%
of which Alt-A 6.00% 5.13% 4.36% 1.97% 0.44%
of which Subprime 8.06% 7.34% 6.64% 4.04% 2.20%
Delinquency (90+ days) 17.31% 16.42% 15.77% 9.07% 3.54%
of which Prime 8.77% 8.02% 7.43% 2.70% 0.70%
of which Alt-A 15.81% 14.54% 13.46% 5.59% 1.24%
of which Subprime 28.96% 28.05% 27.28% 17.55% 7.13%
========================================================================ParticipantHere is the latest data from Bloomberg:
30, 60, 90 day delinquencies + foreclosures + REO = 24.13% of outstanding mortgages
=========================================================================
01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
=========================================================================
Bankruptcy 1.42% 1.40% 1.39% 0.90% 0.82%
of which Prime 0.67% 0.63% 0.63% 0.24% 0.12%
of which Alt-A 1.18% 1.16% 1.14% 0.39% 0.07%
of which Subprime 2.59% 2.59% 2.56% 1.88% 1.90%
Foreclosure 7.94% 7.56% 7.40% 4.50% 1.76%
of which Prime 4.10% 3.71% 3.49% 1.36% 0.34%
of which Alt-A 6.99% 6.55% 6.22% 2.52% 0.61%
of which Subprime 13.31% 12.98% 12.83% 8.80% 3.55%
Real Estate Owned 4.06% 4.10% 4.13% 2.29% 0.66%
of which Prime 1.77% 1.72% 1.67% 0.55% 0.11%
of which Alt-A 2.82% 2.86% 2.88% 1.10% 0.18%
of which Subprime 7.56% 7.71% 7.78% 4.70% 1.37%
=========================================================================
01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
=========================================================================
Delinq. (30,60,90,REO&Fore) 24.13% 23.17% 21.69% 14.43% 7.28%
of which Prime 12.87% 12.08% 10.79% 5.27% 2.22%
of which Alt-A 23.51% 22.49% 20.25% 10.59% 4.45%
of which Subprime 38.88% 37.71% 35.99% 25.77% 12.88%
Delinquency (30 days) 4.18% 4.26% 3.76% 3.29% 2.33%
of which Prime 2.51% 2.60% 2.17% 1.61% 1.05%
of which Alt-A 4.71% 5.05% 4.41% 3.40% 2.40%
of which Subprime 6.05% 6.00% 5.45% 5.13% 3.59%
Delinquency (60 days) 2.64% 2.49% 2.15% 1.79% 0.91%
of which Prime 1.59% 1.45% 1.20% 0.75% 0.26%
of which Alt-A 2.99% 2.90% 2.38% 1.60% 0.61%
of which Subprime 3.83% 3.63% 3.23% 3.03% 1.65%
Delinquency (60+ days) 19.96% 18.91% 17.93% 10.86% 4.45%
of which Prime 10.36% 9.48% 8.63% 3.46% 0.97%
of which Alt-A 18.80% 17.44% 15.84% 7.19% 1.85%
of which Subprime 32.81% 31.69% 30.53% 20.61% 8.79%
————————————————————————-=========================================================================
01/31/09 12/31/08 11/30/08 01/31/08 01/31/07
=========================================================================
Delinquency (90 days) 5.31% 4.76% 4.24% 2.28% 1.11%
of which Prime 2.90% 2.59% 2.26% 0.80% 0.24%
of which Alt-A 6.00% 5.13% 4.36% 1.97% 0.44%
of which Subprime 8.06% 7.34% 6.64% 4.04% 2.20%
Delinquency (90+ days) 17.31% 16.42% 15.77% 9.07% 3.54%
of which Prime 8.77% 8.02% 7.43% 2.70% 0.70%
of which Alt-A 15.81% 14.54% 13.46% 5.59% 1.24%
of which Subprime 28.96% 28.05% 27.28% 17.55% 7.13%
========================================================================Participant>>BTW if I could buy commercial paper with a 20% default rate for 5 cents on the dollar, I’d go all in, it would be the investment of the lifetime
“The discount on a doubtful loan will always need to be greater than a strict measurement of the risk involved. If there is a 10% risk of default, the discount is likely to be a multiple of 10 per cent…If you cannot value an asset, and no-one wants to buy it, it does not have a value. Bear Stearns have come up with the value of two of its hedge funds. One has lost 91 per cent of value in a year; the other has lost 100 per cent. They were invested in repackaged mortgage backed securities.” William Rees-Mogg
for The Daily Reckoning AustraliaParticipant>>BTW if I could buy commercial paper with a 20% default rate for 5 cents on the dollar, I’d go all in, it would be the investment of the lifetime
“The discount on a doubtful loan will always need to be greater than a strict measurement of the risk involved. If there is a 10% risk of default, the discount is likely to be a multiple of 10 per cent…If you cannot value an asset, and no-one wants to buy it, it does not have a value. Bear Stearns have come up with the value of two of its hedge funds. One has lost 91 per cent of value in a year; the other has lost 100 per cent. They were invested in repackaged mortgage backed securities.” William Rees-Mogg
for The Daily Reckoning AustraliaParticipant>>BTW if I could buy commercial paper with a 20% default rate for 5 cents on the dollar, I’d go all in, it would be the investment of the lifetime
“The discount on a doubtful loan will always need to be greater than a strict measurement of the risk involved. If there is a 10% risk of default, the discount is likely to be a multiple of 10 per cent…If you cannot value an asset, and no-one wants to buy it, it does not have a value. Bear Stearns have come up with the value of two of its hedge funds. One has lost 91 per cent of value in a year; the other has lost 100 per cent. They were invested in repackaged mortgage backed securities.” William Rees-Mogg
for The Daily Reckoning AustraliaParticipant>>BTW if I could buy commercial paper with a 20% default rate for 5 cents on the dollar, I’d go all in, it would be the investment of the lifetime
“The discount on a doubtful loan will always need to be greater than a strict measurement of the risk involved. If there is a 10% risk of default, the discount is likely to be a multiple of 10 per cent…If you cannot value an asset, and no-one wants to buy it, it does not have a value. Bear Stearns have come up with the value of two of its hedge funds. One has lost 91 per cent of value in a year; the other has lost 100 per cent. They were invested in repackaged mortgage backed securities.” William Rees-Mogg
for The Daily Reckoning AustraliaParticipant>>BTW if I could buy commercial paper with a 20% default rate for 5 cents on the dollar, I’d go all in, it would be the investment of the lifetime
“The discount on a doubtful loan will always need to be greater than a strict measurement of the risk involved. If there is a 10% risk of default, the discount is likely to be a multiple of 10 per cent…If you cannot value an asset, and no-one wants to buy it, it does not have a value. Bear Stearns have come up with the value of two of its hedge funds. One has lost 91 per cent of value in a year; the other has lost 100 per cent. They were invested in repackaged mortgage backed securities.” William Rees-Mogg
for The Daily Reckoning AustraliaParticipant>>To be on the safe side, the bill is written to allow FHA to back “up to” 300b in new mortgages, but they think that the limit is very unlikely to be hit.
>>We’re at least halfway out of the bubble,
I am not sure which part of your reply I like the best. The part about how they aren’t going to use all the money or the part about the bubble being mostly over.
Participant>>To be on the safe side, the bill is written to allow FHA to back “up to” 300b in new mortgages, but they think that the limit is very unlikely to be hit.
>>We’re at least halfway out of the bubble,
I am not sure which part of your reply I like the best. The part about how they aren’t going to use all the money or the part about the bubble being mostly over.
Participant>>To be on the safe side, the bill is written to allow FHA to back “up to” 300b in new mortgages, but they think that the limit is very unlikely to be hit.
>>We’re at least halfway out of the bubble,
I am not sure which part of your reply I like the best. The part about how they aren’t going to use all the money or the part about the bubble being mostly over.
Participant>>To be on the safe side, the bill is written to allow FHA to back “up to” 300b in new mortgages, but they think that the limit is very unlikely to be hit.
>>We’re at least halfway out of the bubble,
I am not sure which part of your reply I like the best. The part about how they aren’t going to use all the money or the part about the bubble being mostly over.
Participant>>To be on the safe side, the bill is written to allow FHA to back “up to” 300b in new mortgages, but they think that the limit is very unlikely to be hit.
>>We’re at least halfway out of the bubble,
I am not sure which part of your reply I like the best. The part about how they aren’t going to use all the money or the part about the bubble being mostly over.
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