renterbob Posted September 25, 2008 Share Posted September 25, 2008 (edited) Who said 'ALT-A'? Professional facts and statistics from the USA. Not my usual crap. Edited September 25, 2008 by renterbob Quote Link to comment Share on other sites More sharing options...
renterbob Posted September 25, 2008 Author Share Posted September 25, 2008 bump Quote Link to comment Share on other sites More sharing options...
the primitive Posted September 25, 2008 Share Posted September 25, 2008 bump Give up bumping your own threads, it's just sad Quote Link to comment Share on other sites More sharing options...
renterbob Posted September 25, 2008 Author Share Posted September 25, 2008 Give up bumping your own threads, it's just sad I revamped it completely, was about summit else originally. Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted September 25, 2008 Share Posted September 25, 2008 (edited) NEGATIVE EQUITY IS THE LARGEST CONTRIBUTOR TO LOAN DEFAULT well I just learnt something- and its sooo obvious- its NOT that they cant meet repayments necessarily And we are rapidly moving into a huge NEQ situation in the UK Edited September 25, 2008 by KingCharles1st Quote Link to comment Share on other sites More sharing options...
dandare500 Posted September 25, 2008 Share Posted September 25, 2008 bump That was pretty good. Scary data - Tried to look - looks like the data has been pulled since April. Quote Link to comment Share on other sites More sharing options...
Liquid Goldfish Posted September 25, 2008 Share Posted September 25, 2008 NEGATIVE EQUITY IS THE LARGEST CONTRIBUTOR TO LOAN DEFAULTwell I just learnt something- and its sooo obvious- its NOT that they cant meet repayments necessarily And we are rapidly moving into a huge NEQ situation in the UK we don't have non recourse here though like a lot of the USA does Quote Link to comment Share on other sites More sharing options...
Its time to buy Posted September 25, 2008 Share Posted September 25, 2008 Better than CTRL+ALT+DEL - never do that! Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted September 25, 2008 Share Posted September 25, 2008 soon to be Alt-a Loans - Where Are They? Quote Link to comment Share on other sites More sharing options...
miko Posted September 25, 2008 Share Posted September 25, 2008 NEGATIVE EQUITY IS THE LARGEST CONTRIBUTOR TO LOAN DEFAULTwell I just learnt something- and its sooo obvious- its NOT that they cant meet repayments necessarily And we are rapidly moving into a huge NEQ situation in the UK yes I knew a few people last time round who had no problem paying their mortgages , but were so sick of the value in their homes decreasing that they just sent back their keys and walked away. I do know that one of them was chased up many years later by the bank for £16,000 owed and he agreed to settle with them for £8,000. This time round the figures owed will be much bigger and I guess the amount of people who walk away will be far higher. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 25, 2008 Share Posted September 25, 2008 soon to be Alt-a Loans - Where Are They? they are a type of loan, better risk than Sub prime but not prime, sold heavily from about 2 years ago with 2 year teaser rates. They are larger in size than sub prime in general, and there are more of them. They start there renewal time in ernest from about now and peak in about mid 2009. Course, in the US, if the renewals are too onerous and they are in Neg Eq, it pays the mortgage holder to walk and jingle mail. So, in essence, its the sub prime defaults all over again, only bigger and higher up the ratings league. IMHO, these are the reasons for the urgency of the bailout package.... They KNOW whats about to hit. 700bn? its not enough. not by a long chalk. Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted September 25, 2008 Share Posted September 25, 2008 they are a type of loan, better risk than Sub prime but not prime, sold heavily from about 2 years ago with 2 year teaser rates. They are larger in size than sub prime in general, and there are more of them.They start there renewal time in ernest from about now and peak in about mid 2009. Course, in the US, if the renewals are too onerous and they are in Neg Eq, it pays the mortgage holder to walk and jingle mail. So, in essence, its the sub prime defaults all over again, only bigger and higher up the ratings league. i seen em. i think you missed the allusion to an anticipated future difficulty to quantify them, etc. (IBID/ID) IMHO, these are the reasons for the urgency of the bailout package.... They KNOW whats about to hit.700bn? its not enough. not by a long chalk. totally agree. nowhere near. first it was spitting in the wind, then pissing in a gale, now the hurricane is here they're rooting round for the Vigrex Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted September 25, 2008 Share Posted September 25, 2008 Bloo Loo, tried to pm you to say sorry for bein' an ****, but i can't send mail for some reason.. interesting times! Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 25, 2008 Share Posted September 25, 2008 Bloo Loo, tried to pm you to say sorry for bein' an ****, but i can't send mail for some reason..interesting times! no, it was me who misread. Think nothing of it. Quote Link to comment Share on other sites More sharing options...
wonderpup Posted September 25, 2008 Share Posted September 25, 2008 NEGATIVE EQUITY IS THE LARGEST CONTRIBUTOR TO LOAN DEFAULT I think negative sentiment will amplify this effect. Being in NE is bad enough, but seeing the banks who put you there being rescued must be infuriating. Quote Link to comment Share on other sites More sharing options...
renterbob Posted September 26, 2008 Author Share Posted September 26, 2008 they are a type of loan, better risk than Sub prime but not prime, sold heavily from about 2 years ago with 2 year teaser rates. They are larger in size than sub prime in general, and there are more of them.They start there renewal time in ernest from about now and peak in about mid 2009. Course, in the US, if the renewals are too onerous and they are in Neg Eq, it pays the mortgage holder to walk and jingle mail. So, in essence, its the sub prime defaults all over again, only bigger and higher up the ratings league. IMHO, these are the reasons for the urgency of the bailout package.... They KNOW whats about to hit. 700bn? its not enough. not by a long chalk. Frankly, the video sent shivers up my spine. Do we know who has the 'interesting' alt-a loan books in the UK? 700 Trillion enough? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 26, 2008 Share Posted September 26, 2008 Frankly, the video sent shivers up my spine.Do we know who has the 'interesting' alt-a loan books in the UK? 700 Trillion enough? There is no sub prime in the UK. No doubt there is no Alt-A in the Uk either. In fact, every mortgage ever done in the Uk is fully regulated and overseen by the Regulators. We know this because fines to erant brokers are high and a respected deterrant to wrong doers. Lucky old UK. Quote Link to comment Share on other sites More sharing options...
renterbob Posted September 26, 2008 Author Share Posted September 26, 2008 There is no sub prime in the UK.No doubt there is no Alt-A in the Uk either. In fact, every mortgage ever done in the Uk is fully regulated and overseen by the Regulators. We know this because fines to erant brokers are high and a respected deterrant to wrong doers. Lucky old UK. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted September 26, 2008 Share Posted September 26, 2008 There is no sub prime in the UK.No doubt there is no Alt-A in the Uk either. In fact, every mortgage ever done in the Uk is fully regulated and overseen by the Regulators. We know this because fines to erant brokers are high and a respected deterrant to wrong doers. Lucky old UK. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted September 28, 2008 Share Posted September 28, 2008 Quote Link to comment Share on other sites More sharing options...
herbert_goon Posted September 28, 2008 Share Posted September 28, 2008 As it was explained to me: Alt a = sh1t product, good customer Subprime = sh1t product, sh1t customer Quote Link to comment Share on other sites More sharing options...
Liquid Goldfish Posted September 28, 2008 Share Posted September 28, 2008 As it was explained to me:Alt a = sh1t product, good customer Subprime = sh1t product, sh1t customer On that Andrew Neil special on News 24 the other night one of the guys said that Alt-A was the same as subprime exceet that the borrower lies Quote Link to comment Share on other sites More sharing options...
tinker Posted September 28, 2008 Share Posted September 28, 2008 (edited) As it was explained to me:Alt a = sh1t product, good customer Subprime = sh1t product, sh1t customer Succint and too true. On that Andrew Neil special on News 24 the other night one of the guys said that Alt-A was the same as subprime exceet that the borrower lies LIAR LOANS anyone? Are the people* who got us into this mess, really the people to sort it out? *crooks, criminals, incompetents Edited September 28, 2008 by tinker Quote Link to comment Share on other sites More sharing options...
renterbob Posted September 28, 2008 Author Share Posted September 28, 2008 Succint and too true.LIAR LOANS anyone? Are the people* who got us into this mess, really the people to sort it out? *crooks, criminals, incompetents You mean the bankers or the politicians? I'd rather have Winne the Poo in charge. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted September 28, 2008 Share Posted September 28, 2008 You mean the bankers or the politicians?I'd rather have Winne the Poo in charge. Quote Link to comment Share on other sites More sharing options...
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