Wednesday, December 5, 2007

Govt to freeze subprime mortgage holder rates

Some are suggesting this will probably help WM and CFC, but I am not so sure. Aren't they expecting revenue stream from the resets starting next year? If the Govt freezes rates, then isn't that revenue gone?

I guess it's probably better than a whole crapload of foreclosures... Maybe that's the angle. Also maybe screws some of the less connected competition? Maybe the competition has a portfolio that falls outside the type described in the Bloomberg article; thus they get stuck with a bunch of foreclosed homes, while CFC and WM maintain cashflow.

I dunno...

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