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Berri Jam
Berri Jam

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"If the serivicer is as big as JPMorgan, WellsFargo, BofA, etc., then they have the capacity to handle the initial onslaught of defaults. If it continues longer as to which it drains their capacity, they'll be asking help from the government, which they already are starting to. My point is that pricing of the non agency MBS has dropped to such panic level as if massive defaults will hit the non agency MBS with no protection from servicers. We should try to analyze how much protection can servicers..."    View Comment
"I've been reading hours of articles about the current REIT crisis and have found your writing and posts to be most helpful. To quote you: "The investors who buy mortgages have a guarantee to receive timely payments. If the homeowner can't pay it, the loan servicer is supposed to" Isn't this a key point regarding whether the panic in non agency MBS bonds pricing is warranted? If the Servicers (big banks) are first in line to pay on behalf of defaulters, why should MBS holders..."    View Comment
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