KITCHEN SINK WRITE DOWNS!! - 01/17/08 06:05 AM
Expect to see in $10BB - $20BB in write downs of mortgage backed servicing portfolio from the largest Mortgage lenders.
Economic Analysis © 2008 Keith Otto
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WHAT RECESSION?? - 01/16/08 10:21 PM
We are currently in a recession.  Same store sales were way off, except for Wal-Mart which is more defensive in comparison to other retailers.
Moreover, the real estate market has been hit hard.  Values are off due to rising inventory due primarily to lack of financing opportunities.
In addition, we are seeing the major Mortgage Banks reporting record write downs in their service portfolio. Expect to see "kitchen sink" write down from most of the major (MBS) issuers in the neighborhood of $10+bbs each firm.
In addition, you will see increases in reserves for loan loss reserve as these major firms try to maneuver … (0 comments)

 

Keith Otto

Dallas, TX

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