All GLG News Analyses Filed Under: Mortgages, Consumer & Specialty Finance

A Straw In The Prairie Wind?

September 25, 2009

Analysis by:GLG Expert Contributor

Analysis of:  Landmark Decision: Massive Relief for Homeowners and Trouble for the Banks | bit.ly

The Kansas Supreme Court has made it much harder to foreclose on a securitized mortgage.If upheld on the inevitable appeal this could have a disastrous effect on bank capital.The only slightly better news is that without mortgage payments, some people will consume more.The magnitude of this decision,...

Joseph ChathamPresidentChatham Mortgage Partners Inc.

Round II: Coming to a neighborhood near you

September 25, 2009

Analysis of:  "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...

JPMorganChase's Consumer Behavior Gamble Drives Profitability

September 24, 2009

Analysis by:GLG Expert Contributor

Analysis of:  How to Stop a Credit Card Payment Increase | www.mainstreet.com

This customer pool is one that JPMorgan Chase wants to retain due to their decent credit history and payment performance. However, at their current promotional rates, the pool is not profitable. Chase is betting that their borrowers are payment-sensitive rather than rate-sensitive and the consumer...

Daniel LintzPresident & Chief Executive OfficerSafe Harbour Japan K.K.

Aiful opts for privately orchestrated rehabilitation plan

September 23, 2009

Analysis of:  Aiful To Close 270 Branches In 1 Year Under Rehab Plan | www.nni.nikkei.co.jp

Nikkei reports that Aiful expects to receive approval to enter Alternative Dispute Resolution talks with bank creditors to win support for a privately orchestrated rehabilitation plan that includes slashing 1,000 jobs and closing an additional 70 staffed and 200 automated branches. There is noindication...

Where Goes The Brazilian RMBS Market?

September 23, 2009

Analysis by:GLG Expert Contributor

Analysis of:  Public Offer of CRIs by Gaia Securitizadora S.A. for Brookfield Incorporacoes | siteempresas.bovespa.com.br

On September 21st a BRL 71 million CRI (pooled residential receivables) was launched for Brookfield Incorporacoes (BISA3) paying a rate of 9.25% corrected by the wholesale inflation index (IGP-M).The underlying securities were CCIs, individual residential receivables, the Brazilian RMBS.CCIs arefreely...

Daniel LintzPresident & Chief Executive OfficerSafe Harbour Japan K.K.

Alternative Dispute Resolution is no panacea for Aiful

September 22, 2009

Analysis of:  Interest Refunds To Remain A Burden On Aiful's Restructuring | www.nni.nikkei.co.jp

On September 18th, Aiful announced plans to negotiate changes in payment schedules with creditors as part of a broader operational restructuring. The company hopes to take advantage of provisions in the recently revised Special Law for Industrial Revitalization and Restructuring of Industrial Activities...

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

Thanks, but no thanks

September 17, 2009

Analysis of:  Lending in Europe continues to shrink | www.ft.com

Banks across Europe have insisted in recent months any decline in lending is due to a falloff in demand, not supply. Supply is not useful if the line or rate does not make any sense.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

US Credit Line Draw Down, Down

September 8, 2009

Analysis of:  Banks swamped by a wave of personal debt | business.timesonline.co.uk

Recent studies indicate that the US consumer and small business usage of their existing lines of credit has declined.

Joseph ChathamPresidentChatham Mortgage Partners Inc.

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

August 21, 2009

Analysis of:  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.

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

August 11, 2009

Analysis of:  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.

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