must read – Mortgage warehousing: What now? – James Hinton – National Mortgage Professional

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“Forget About FICO Scores And High LTVs” – John Carney – As many of you know, Bear Stearns and First Union did the first securitization of loans made under the Community Reinvestment Act in 1997…. Two of the folks responsible for that deal, Dale Westhoff of Bear Stearns and Ned Brown, went on to write an article for the May 1998 issue of Mortgage Banking, explaining how their colleagues could package CRA loans into securities. – Clusterstock 
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NY Fed On Negative Equity Estimates Among Non-Prime Borrowers – Posted by Tyler Durden – The New York Fed on a roll today. This time discussing the nebulous question of how many subprime borrowers have any equity at all in their house. Seeing how the GSEs are going batshit over providing 125% LTV refi options, the Fed could have probably saved $100k in taxpayer money for very unnecessary research and concluded that the answer is “Lots.” … – Zero Hedge

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FDIC data shows no CRA, failure correlation – Federal Deposit Insurance Corp. data shows that over the last decade most banks have complied with the controversial Community Reinvestment Act with no corresponding rise in bank failures. – The Deal

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Fitch, S&P Downgrade Subprime, Jumbo RMBS Transactions – Research Recap

Fitch has taken various rating actions on 712 Pre-2005 … subprime RMBS
Standard & Poor’s lowered its ratings on 1,784 classes … prime jumbo mortgage loan collateral issued in 2005, 2006, and 2007.
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Ticking Prime Bomb!: Fannie Mae Monthly Summary May 2009 – … The following chart shows what Fannie Mae terms the count of “Seriously Delinquent” loans as a percentage of all loans on their books.  It’s important to understand that Fannie Mae does NOT segregate foreclosures from delinquent loans when reporting these numbers and that should they report the delinquent results as a percentage of the unpaid principle balance, things might likely look a lot worse. … – Paper Economy – A US Real Estate Bubble Blog