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Thread: new CSFB report - who is actually 'holding the bag' re sub-prime mortgage defaults

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    Default new CSFB report - who is actually 'holding the bag' re sub-prime mortgage defaults

    CSFB report dissected by an Investor BBS into the following

    Fannie and Freddie: 14%
    Foreign Investors: 17%
    Governments: 11%
    Commercial Banks: 16%
    Other: 13%
    Insurance Companies: 8%
    Mutual Funds: 7%
    Pension Funds: 4%
    Thrifts: 3%
    Money Funds: 2%

    Please keep in mind that this list is ONLY GSE MBS, not private label, and not mortgages held directly by banks, mortgage companies and others. However, I'm sure the percentages are about the same for private MBS. The banks hold $3 trillion in mortgages directly and Fannie/Freddie hold about $1.5 trillion.

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    Default Re: new CSFB report - who is actually 'holding the bag' re sub-prime mortgage default

    I'm sick of hearing about the sub-primes.

    Millions of households with previously good credit were probably just as easily duped into biting off more than they should have with AR, IO, NA, etc etc mortgages.

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    Default Re: new CSFB report - who is actually 'holding the bag' re sub-prime mortgage default

    ^^^ arguably the Alt-A mortgage market is in s#!t just as deep ... however the Alt-A lenders tend to be more diversified thus less prone to early bankruptcy filings.

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