Foreclosures Rise 158% from May 2007

Quote from kowboy:

Holy smokes. Thanks LasloChi for sharing this information. Looks like we've only seen the tip of the iceberg or as you say trainwreck. I knew it would be bad but no idea that the numbers coming online were so high.

Much appreciated.
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That's just one of thousands of pools.. So, you can't read into the two pools I've posted here with too much panic. But, you now see the daunting task that these firms now face when it comes to trying to come up with an accurate price for this stuff. There's thousands of deals out there, and the #'s are changing.

I wouldn't worry TOO much about the CSFB deal that I posted. It will probably cause a dent of a few mil's to be added to whatever writedown if things hit the fan in that class for CSFB.
But, that was late in the issuance. This pool is almost paid off (thank goodness)

-lc
 
*CITIGROUP CFO EXPECTS SUBSTANTIAL ADDITIONAL CDO MARKDOWNS

I forgot to look at citibank LOL

woops!

But it doesn't look so bad, but I guess the incremental delinquencies are adding up.

There's a lot to look at though. Many tranches in just this one deal alone (2pgs worth).
 

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Quote from 1Reason:

I would be willing to stand up and say that it did not "became" and that its always been that way.

One should never buy and borrow as much as they possibly can on anything. Not having a plan B is the real problem. I know that congress and the media cant say that people are stupid even when they are. They have to say things like the lenders made them do it bla bla bla BS.

I don't think its a new saying that a fool and his money are soon parted and in the wise words of GG "they are lucky enough to get together in the first place"
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http://youtube.com/watch?v=9uJ7Ya91IGM
 
In keeping with the whole theme, take a look at a pool issued in 2004 by Goldman Sachs (GSAA 2004-9). I was paying attention to the M4 tranche, but this is a periodic update report that gets sent out for all tranches for the entire deal every month.
 

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