Missed the elephant in the room this week - DFWstangs Forums
 
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post #1 of 6 (permalink) Old 05-09-2010, 11:29 AM Thread Starter
Married Man on 14Feb2010
 
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Missed the elephant in the room this week

Too much distraction with Geek this week.

Quote:
IF you blinked, you might have missed the ugly first-quarter report last week from Freddie Mac, the mortgage finance giant that, along with its sister Fannie Mae, soldiers on as one of the financial world’s biggest wards of the state.

Freddie — already propped up with $52 billion in taxpayer funds used to rescue the company from its own mistakes — recorded a loss of $6.7 billion and said it would require an additional $10.6 billion from taxpayers to shore up its financial position.
...
Serious delinquencies in Freddie’s single-family conventional loan portfolio — those more than 90 days late — came in at 4.13 percent, up from 2.41 percent for the period a year earlier. Delinquencies in the company’s Alt-A book, one step up from subprime loans, totaled 12.84 percent, while delinquencies on interest-only mortgages were 18.5 percent. Delinquencies on its small portfolio of option-adjustable rate loans totaled 19.8 percent.
[/b]
http://www.nytimes.com/2010/05/09/bu...l?ref=business
Need to itsert that ice cream cone picture here too.
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post #2 of 6 (permalink) Old 05-09-2010, 11:39 AM
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MY TIME TO SHINE



I think there is alot that has the potential to bring us back down, not just this.
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post #3 of 6 (permalink) Old 05-09-2010, 11:42 AM
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no problem just take some more money out of my paycheck to pay for it! while your at it make sure all the high up ceo's get a nice bonus!

98 Brokra
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post #4 of 6 (permalink) Old 05-09-2010, 12:05 PM
duh...duh....duh
 
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Quote:
Originally Posted by Ylw 98~~SNAKE~~ View Post
no problem just take some more money out of my paycheck to pay for it! while your at it make sure all the high up ceo's get a nice bonus!
That's really what it boils down to isn't it?

My '03 Sold.
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post #5 of 6 (permalink) Old 05-09-2010, 12:49 PM
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Quote:
Originally Posted by Ylw 98~~SNAKE~~ View Post
no problem just take some more money out of my paycheck to pay for it! while your at it make sure all the high up ceo's get a nice bonus!
thats exactly right!!!!

Keepin' The Old School Alive
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post #6 of 6 (permalink) Old 05-09-2010, 02:36 PM
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When the delinquencies on adjustable mortgages decrease further, look for the prime mortgage rates to increase. But don't worry..... 01WhiteCobra says we are out of the recession.
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