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 Delta announces large securitization View next topic
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casio
Flash in the pan


Joined: 13 Feb 2007
Posts: 30

Delta announces large securitization
PostPosted: Thu Mar 15, 2007 12:04 pm Reply with quoteBack to top

Somewhat impressive that a company known for doing the toughest deals is still doing business as usual... Minimal product cuts, etc...

Maybe Aaron should start a list for the companies doing well... probably a pretty short list...

http://www.snl.com/irweblinkx/.....ID=3544183
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Delta announces large securitization
PostPosted: Thu Mar 15, 2007 12:28 pm Reply with quoteBack to top

"Our quarter-of-a-century strategy of originating predominantly fixed-rate mortgage loans, our proven underwriting capability and our 16-year securitization track record continues to drive demand for our asset-backed securities."

This implies they write 30 yr fixed mortgages to little old ladies that missed one payment 2 years ago. If thats the case, I suspect they could be fine.

casio wrote:
Somewhat impressive that a company known for doing the toughest deals is still doing business as usual... Minimal product cuts, etc...


Your statement implies that when you have a loan so ugly that no one else will touch it, you go to Delta. If that is the case, then this sounds like pure pump and dump and they should be toast by the end of the month.

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casio
Flash in the pan


Joined: 13 Feb 2007
Posts: 30

Re: Delta announces large securitization
PostPosted: Thu Mar 15, 2007 1:06 pm Reply with quoteBack to top

they do a lot of nichey stuff, avg LTV is below 80% and their rates are high, but they still did $4bil last year. I bet these guys will make it...
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