Mr Mortgage

Option ARMs: The Banking Backdrop of 2009

Hey Reg - First American's numbers are jacked. They 'track' $200 billion but there are more out there. Additionally, they have only been tracking POA's for about 2 years. But before that the methods of collecting the data did not include the markers needed to identify a POA from a 5/1 ARM for example. After two years of research on this, I have concluded that there were $750 billion originated since 2003 and $550 billion still in existence. Put it this way - we know WB has $122 billion on balance sheet. There is no way they hold 60% of all POA's in existence.