On Sep 23, 2008, at 2:07 PM, Julio Huato wrote:
raghu wrote:
1) I like the idea but I don't think the numbers are right. The 2.5%
average delinquency rate is I believe for *all outstanding
mortgages*.
The delinquency rate for subprimes is, I believe, substantially
higher
(closer to 25%). Even with that higher number the idea is still good
because it works on the trickle up principle rather than the trickle
down favored by Paulson/Bernanke.
Thanks. I'll correct that as well.
The Mortgage Bankers Assn's 08Q2 numbers:
past due in foreclosure
seriously
--------------------------------- ------------------
delinquent
total 30 days 60 days 90+ days inventory started (FC
+90)
all
NSA 6.22 3.23 1.24 1.75 2.75 1.08
4.50
SA 6.41 3.30 1.28 1.83 1.19
prime
NSA 3.73 2.08 0.72 0.93 1.42 0.61
2.35
SA 3.93 2.16 0.76 1.01 0.67
subprime
NSA 18.21 8.30 3.87 6.04 11.81 4.26
17.85
SA 18.67 8.49 4.00 6.19 4.70
total loans
all 45,422,515
prime 35,267,455
subprime 5,541,463
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