Jan 11 2010
The Option ARM Day of Reckoning for California is Here: 60-Month Window Opens for $134 Billion in Recasts. Why Option ARMs will hit Mid to Upper Priced Homes.
The day of option ARM reckoning is now here. The 60-month window on many of these loans is now over and we are going to enter the first major waves of recasts. In the next two years $134 billion in option ARMs will hit their first recast. This might seem like a tiny amount given [...]
Dec 7 2009
The Option ARM Kingpins: Who Holds the Elusive Option ARMs? $189 Billion Securitized and Outstanding and big Three of Wells Fargo, JP Morgan, and Bank of America Playing with Time.
Trying to get a raw number on the elusive option ARM mortgage is like asking the top banks to air their dirty laundry. We know banks still have billions of these loans on their books but trying to get an accurate figure is like trying to audit the Fed. In September, Fitch released data showing [...]