Thursday, August 7, 2008

A correction on mortgage trends

I posted the general view that the worse your credit the faster it is improving and the better it is the faster it is deteriorating. (See this post in response to Felix Salmon.)

Again there is a gross simplication. This is true for business written in 2006 and prior. 2007 business just looks sick everywhere. I also blogged about that here where I noted that if you did 2005 and 2006 non-prime business you are seeing light at the end of the tunnel. If you did 2007 business that light is an oncoming train.


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The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author.  In particular this blog is not directed for investment purposes at US Persons.