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GLG News by Subprime Mortgage Experts (US)

Anthony Catanach, Director

Anthony CatanachDirectorDI2 Associates, LLC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

More Under Armour Red Flags...

November 20, 2009

Stock Jocks Punish Under Armour's Mathletes | www.cnbc.com

Under Armour's most recent 10K contains a number of financial reporting "red flags" that reflect a cavalier attitude toward financial reporting transparency.

Anthony Catanach, Director

Anthony CatanachDirectorDI2 Associates, LLC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

What the Former SEC Chairmen Missed...

November 19, 2009

Don't Let Banks Hide Bad Assets | online.wsj.com

Conceptually, the arguments favoring fair value accounting are sound and quite appealing. Unquestionably, financial statement users will benefit from data about how a company’s assets and liabilities change in value during a reporting period. However, there are two major issues associated with fair value reporting that accountants, investors, legislators, and regulators need to address in the wake of our most recent financial crisis.

Anthony Catanach, Director

Anthony CatanachDirectorDI2 Associates, LLC What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

What Have the Accountants Done For Us Lately?

November 19, 2009

Systemic risk legislation threatens FASB’s independence | www.accountingweb.com

Debates about the causes of the recent financial crisis have yet to focus on the inability of financial institution independent auditors to provide adequate oversight over management’s valuations of financial instruments.

Joseph ChathamPresidentChatham Mortgage Partners Inc. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Lower Rates, While Great, Do Little For Jumbo Lending

October 1, 2009

Real Estate Outlook: Mortgage Rate Dip Impacts Housing | realtytimes.com

The Realty Times article reflects the positive effects of lower interest rates on mortgage originations and home purchases, but fails to note the failure of said rates to transcend the conforming/conventional markets into the jumbo markets. The implications of this failure are that many homeowners in the higher cost states (CA, NY, MA, etc.) still cannot get competitive financing; thus, driving home prices down further.

Joseph ChathamPresidentChatham Mortgage Partners Inc. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

It is all in the "W"

September 28, 2009

KB Home Loss Narrows on Fewer Write-Downs | online.wsj.com

KB, a lower cost builder, is benefitting from the perception that we have hit the bottom. We have not. Thus, the peak of the inside of the "W" is about to wane.

Joseph ChathamPresidentChatham Mortgage Partners Inc. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Round II: Coming to a neighborhood near you

September 25, 2009

"Option" mortgages to explode, officials warn | www.linkedin.com

While a very general description of the Pay Option ARM disaster that is looming, the Reuters article is dead-on in two conclusions: many more homes will be hitting the market over the course of the next two and one-half years and that the mortgage plague that started with the subprime crisis will be moving from the lower income strata to the middle and higher income areas.

Joseph ChathamPresidentChatham Mortgage Partners Inc. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Deutsche Bank Recognizes the Depth and Width of "A" Paper Crisis to Come

August 21, 2009

Deutsche Bank on those drowning US homeowners | ftalphaville.ft.com

The depth of the "Alt A" mortgage crisis is coming home to roost. We are likely to see the depreciate creep (or flood as the case may be) is going to hit the areas that the subprime loans barely touched.

Joseph ChathamPresidentChatham Mortgage Partners Inc. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

I hate to say I told you so, but.....

August 11, 2009

About Half Of U.S. Mortgages Seen Underwater By 2011 | www.reuters.com

We have a perfect storm brewing in the housing real estate market. All facts point to a furthur drop in values.

Joseph ChathamPresidentChatham Mortgage Partners Inc. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Article should be titled: "Fed Moves To Curb Lending Further"

July 24, 2009

Fed moves to curb housing abuses | money.cnn.com

Limiting Compensation on "sub-prime" loans will kill the industry as well as stifle lending even further.

Joseph ChathamPresidentChatham Mortgage Partners Inc. What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Home Prices: This slide is but a taste of things to come

June 4, 2009

Home prices slide 14% | money.cnn.com

Although steep declines in home values are enticing new homebuyers, the overall affordability indices are troublesome.  Existing "A" paper laon portfolios suggest trouble ahead. Further declines are not only coming, they should be welcome.

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