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Great post Mish. We need an update as soon as you get time. I wish I was an accredited investor for your hedge fund. But I like to see how the players play the game. :)
Sep 11 18:44 pm
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All Comments by Lockstep Investing »Countrywide: Dogs Howling Over Bare Bones [View article]
Can you also address the exposure B of A takes from boomerang loans from Freddie and Fannie back to Countrywide? At the end of the 2Q Freddie and Fannie said their #1 risk mitigation effort was to do forensic analysis on deteriorated loans and send them and the loss back to the originator. Countryslide originated 1/4 of the loans from 2007 back... It sounds like B of A will be cleaning that up for years. Any thoughts?