I think I see a little good news in here,… By Seeking Alpha Editor, Judy Weil.
And If Subprime Ends Up Not So Bad? [Housing Tracker]
Subprime Fallout
Excerpt: "Countrywide’s Pressures Mount. “Three states [have] filed separate legal actions against Countrywide Financial Corp. (CFC). The actions, by the attorneys general of
May Subprime Data Likely to Show Continued Improvement. “We’ve argued for months that the leading indicators of changes in subprime mortgage credit quality are showing signs of improvement… If said improvement continues, many estimates of cumulative subprime losses… will prove to be much too high… Loan servicer reports for April and May both showed improvement… a sign that something more than just seasonality is going on… A credit surveillance company that regularly monitors a huge portion—like, 40%—of outstanding subprime mortgage loans that have been securitized: Clayton Holdings Inc data shows that the early-year improvement has continued well past the point it can be chalked up just to seasonality.” (Tom Brown in Seeking Alpha, June 25th)
Buffett Sees Opportunities In Subprime Business. “Warren Buffett, CEO of Berkshire Hathaway (BRK.A), sees some opportunities for investing in the subprime mortgage business. Buffett said Berkshire Hathaway had already made some subprime investments through its