I would be interested in finding out if there was any correlation between those 2007 loans that are going into default now and the loan originator. I’d love to see that study.
http://www.nytimes.com/2007/10/16/business/16lend.html?_r=1&th&emc=th&oref=slogin
As Defaults Rise, Washington Worries
By VIKAS BAJAJ
New York Times
October 16, 2007
During the summer’s credit crisis, investors concluded that the default rates on subprime mortgages made last year would probably prove to be the highest in the industry’s history.But there now appears to be another contender for that dubious honor: loans made in the first half of this year.Borrowers who took out loans in the first six months of 2007 are falling behind on payments faster than homeowners who took out loans last year, according to a report by Friedman, Billings, Ramsey, an investment bank based in Arlington, Va. The data suggested that more Americans could lose their homes and that the housing market’s troubles might persist longer than many analysts have been predicting. [click link above to read full article]
Filed under: Uncategorized | Tagged: foreclosures, loan defaults
