GLG News by Subprime Mortgage Experts (US)

Joe GarrettPrincipal ConsultantGarrett, Watts & Co

"New Century Closes Its Pipeline": Investors Should Not Be Shocked

March 12, 2007

Analysis of:New Century Closes Its Pipeline | www.americanbanker.com

 Investors should not at all be shocked. When you peel back the curtain, the tightening of credit standards that New Century and others have been bragging about have been, essentially meaningless.

Maureen BoltonPrincipalGlobal Capital Access

Can a lender and borrower have the same interests?

March 9, 2007

Analysis of:Debating Standards for Mortgage Lenders | www.wsj.com

This WSJ article is a cogent summary of recent efforts by State legislatures to protect borrowers against subprime lenders.

If implemented, any one of these proposed laws will immediately cut-off a vital source of funding for subprime borrowers.

In addition, the statutes would generate a significant amount of business for class action lawyers.

Joseph SmithPresident and CEODefault Mitigation Management

Perfect Storm in Default: Mortgage Servicing News Febraury

March 5, 2007

Analysis of:Subprime Game's Reckoning Day | online.wsj.com

I agree with the Wall Street Journal article. I had an article in Mortgage Servicing News in the February MBA Servicing Conference Issue title the "Perfect Storm in Defualt." My remarks and commentary are attached below.

The issues raised in the Wall Street Journal article are applified and dimensioned in my article.

Highlights the need for different workout solutions or face a liquidity crisis for mortgages and possibly the whole MBS market.

Highlights the needs for different thinking than exists in the current Pooling and Servicing Agreements.

Points the issues of why we are not only headed to recession but a bad recession.

Maureen BoltonPrincipalGlobal Capital Access

The Difference Between a Debt-Market Bomb and Credit Development

February 27, 2007

Analysis of:Debt-Market Bomb | articles.moneycentral.msn.com

Mr. Jubak's article is definitely worth reading, if only to hear his explanation of the current risks being taking by bond investors: insurance.  In his explanation, Mr. Jubak does a terrific job of dissecting credit default swaps and proceeds to inform us that the increase in their availability is causing bond buyers to disregard risks.

Maureen BoltonPrincipalGlobal Capital Access

World's Top MBS Manager Denounces Predictions of Systemic Credit Risk

February 16, 2007

Analysis of:Structured Finance "can weather bad debt conditions" | www.financialnews-us.com

This article represents the sole rational and credible (by virtue of the speaker's managing the world's largest bond funds) description of the current mbs market conditions and the impact on mbs investors.

Maureen BoltonPrincipalGlobal Capital Access

The Story Behind The Story

February 16, 2007

Analysis of:Mortgage Hot Potatoes | online.wsj.com

The article describes Wall Street's increased intent to "put-back" subprime loans to the lenders who sold them and the consequent impact such requests have on subprime lenders without access to funds.

Maureen BoltonPrincipalGlobal Capital Access

Friends With Benefits

February 16, 2007

Analysis of:A Cautious Welcome | www.economist.com

This article is a concise description of the economic and political relationship between China and Africa.  Worth reading, since the impact of this relationship is broader than one would assume.

Maureen BoltonPrincipalGlobal Capital Access

Subprime Market a Boon to Most Borrowers

February 9, 2007

Analysis of:The Politics of Subprime | online.wsj.com

This WSJ editorial is a persuasive, cogent response to the current Hill hearings on subprime mortgage delinquencies.  After expressing some doubts about certain attendees of the hearings, the author concludes that the major complaintants of subprime mortgages are the same folks who would be putting political pressure on lenders to provide credit to subprime borrowers.

The author concludes by simply comparing  the size of the subprime mortgage market with the percentage of subprime loans that are seriously delinquent.

Maureen BoltonPrincipalGlobal Capital Access

Inadequate Research and Definition of Industry Terms Belies Portrayal of SubPrime Borrowers

December 14, 2006

Analysis of:Subprime Borrowers are Falling Behind on Payment | www.wsj.com

This article, which was published on the front page of the Wall Street Journal on December 5th, is a prime example of how lack of knowledge of an industry can lead to incorrect or unsubstantiated interpretation of market trends and data.

The authors report that "Subprime" borrowers are increasingly delinquent and that investors in Subprime mbs could lose principal even on investment-grade rated tranches, something that has never happened (except in the incidence of fraud) in the entire history of the US mbs market.


Since the authors do not provide the readers with an objective definition of subprime, or other salient facts which are essential to the article's message that subprime market participants are in danger, this article should be read with significant skepticism.

Maureen BoltonPrincipalGlobal Capital Access

Subprime Originations Adapt and Endure

October 6, 2006

Analysis of:Trends in US Residential Mortgage Products: Subprime Sector 1st Quarter 2006 | standardandpoors.com

1)S&P's position as a lead rating agency for subprime mbs enables it to obtain market data that would otherwise be unavailable.  Therefore, their quarterly trend reports are an especially accurate review of subprime market trends.
2)The report summarizes data from all originators of subprime mortgages that are securitized in S&P rated mbs and all securitizers (including Wall Street conduits) of subprime mbs.
3) The report contains details such as type of subprime products originated/securitized, characteristics of such products and break-down and credit enhancement levels for subprime pools.

Previous Page : 12345678910Next71 to 80 of 91