|
Post by jeffolie on Aug 28, 2007 13:30:25 GMT -6
|
|
|
Post by unlawflcombatnt on Aug 28, 2007 20:20:18 GMT -6
Great information.
There are some pretty noteworthy specifics given in the article:
"According to BofA’s estimates, approximately $515 billion of ARMs are scheduled to reset in ’07, followed by approximately $680 billion in ’08.
Furthermore, of these ARMs, we estimate that subprime loans consist of $400 billion (78%) in ’07 and $500 billion (73%) in ’08...."
That looks like a lot of default risk, and a lot of subprime-backed MBS devaluation.
|
|