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Real Estate & Property Law
: Housing WireMoody?s Links Option ARM, Subprime Performance
By DIANA GOLOBAY
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More than $200bn of outstanding pay-option adjustable-rate mortgages (ARMs) originated and securitized from ‘04-’07, according to market commentary by Moody’s Investors Service this week.
This sector shows “dismal” performance, with more than 40% of borrowers 60 or more days past due on payments. And many of these loans have yet to experience a recast event, when [...]Full post as published by Housing Wire on December 04, 2009 (boomark / email).
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