Given the daily rush of news, I think a lot of careful analysis gets lost. Thinking about Countrywide's conference call almost a month ago, these slides are very valuable in thinking about where housing and the mortgage industry could be heading. Countrywide services about 20%+ of all mortgage paper in this country. So they have a remarkable opportunity to analyze the specific loan performance of various types of credit and mortgages from conventional to jumbo and the exotics that we may never see again(i.e. option arms and 2/28 ARMs.) Please post your insightful comments. Enjoy this info and give it some thought:
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Thanks for dropping by Housing Doom. Countrywide's first chart documents the relationship between house price appreciation and loan performance. This issue was also discussed by Tom Zimmerman in his March 28th presentation to the AEI. I've got a transcript of that posted as "Early Pay Defaults Drove the Subprime Crisis - Zimmerman Transcript".
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