Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.
The red lines are subprime.
to make sure that is right, the red lines are subprime?
$900 billion to $1 trillion in adjustable- rate subprime mortgages outstanding.
But they could come back. I think subprime lending will come back under a different business model
We reported in yesterday’s briefing that subprime borrowers constituted only about 13 percent of all
Subprime adjustable-rate loans are about 9 percent of outstandings, and subprime fixed loans are another
won’t work. It’s just the economics of originating subprime loans and selling them into the market would no
total outstanding because the average life of the subprime mortgage loan, I’m told, is only two or three
fraction of subprime. If you compare the characteristics of alt-A loans with those of subprime loans, you’ll
delinquency rate is for the pool of adjustable-rate subprime loans, and they represent about 9 percent of the
consists of subprimes or what share of the housing stock do we think is financed at the subprime level? My
There are a couple of themes. One is that the subprime problems are still being worked through the financial
shows 2006 sixty-day and over delinquencies for subprime ARMs tracking with 2001. I don’t recall the world
Bill, you talked about subprime mortgages in some detail but not about alt-A mortgages in great detail
two questions. On page 2, when you talk about subprime paper, do we have any data that can tell us anything
If you get on the Internet and try to find a subprime fixed-rate loan, it would be about that. We can’t
percent. What is roughly the current rate for subprime fixed-rate loans?
about the quantitative relationship between the subprime problems and the stock market. I think that the
expect to have to answer a few questions about the subprime situation, and we would be very interested in
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