Toxic Filings (TOXIC): Could option arms be the bubble burster?

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Posted by: nerdseeksblonde	Date: Friday, September 01, 2006 10:07:34 PM
In reply to: None	Post # of 8110

Could option arms be the bubble burster?

Apparently a creative financing scheme that is starting
to surface is called the "option ARM."
I was curious to know if any mortgage backed funds have expressed holdings of any of these instruments.
Once again, I turned to 10kwizard and some scripts:
$ seccheck -search "1 year" "option arm" > arm_break
$ symgroup -names arm_break
It turned out there were many names with 2006 so I eliminated
the modifiers and lumped them together- Note that they
could say they have avoided option ARMS- caveat emptor.
$ symgroup -names arm_break | sed -e 's/2006.*//p' | uniq
+Alternative Loan Trust
+BANC OF AMERICA FUNDING CORP
+BANC OF AMERICA MORTGAGE SECURITIES INC
+BAYVIEW FINANCIAL SECURITIES CO LLC
+Banc of America Alternative Loan Trust
+Banc of America Funding
+Banc of America Mortgage
+Bear Stearns Mortgage Funding Trust
+CWALT INC
+Citigroup Mortgage Loan Trust
+Deutsche Alt-B Securities Mortgage Loan Trust, Series
+Deutsche Alt-B Securities, Inc. Mortgage Loan Trust, Series
+GREENPOINT MORTGAGE SECURITIES LLC
+GREENWICH CAPITAL ACCEPTANCE INC
+GS MORTGAGE SECURITIES CORP
+GSAMP Trust
+GSR
+GSR Mortgage Loan Trust
+Harborview Mortgage Loan Trust
+Kimball Hill Homes Dallas, L.P.
+Lares Asset Securitization, Inc.
+Lehman XS Trust Series
+Long Beach Mortgage Loan Trust
+Luminent Mortgage Trust
+MASTR Asset Backed Securities Trust
+MASTR Asset Securitization Trust
+MortgageIT Trust 2005-AR1
+NOVASTAR MORTGAGE FUNDING CORP
+NovaStar Certificates Financing CORP
+NovaStar Mortgage Funding Trust, Series
+RESIDENTIAL CAPITAL CORP
+RFMSI Series
+STRUCTURED ASSET SECURITIES CORP
+SUNTRUST ALTERNATIVE LOAN TRUST, SERIES
+Structured Asset Mortgage Investments II Trust
+TRIAD GUARANTY INC
+WASHINGTON MUTUAL MORTGAGE SECURITIES CORP
+WELLS FARGO ASSET SECURITIES CORP
+WaMu Asset Acceptance Corp.
+WaMu Mortgage Pass-Through Certificates, Series
+Wachovia Mortgage Loan Trust, LLC
+Washington Mutual Mortgage Pass-Through Certificates, WMALT Series
+Wells Fargo Asset Securities Corp Mortgage Pass-Through Certificates Series
+Wells Fargo Mortgage Backed Securities
AF AHM BEARX BKUNA CCBI CCPPRA CFC CIT CYN DHI DSL FBC FMSB FMY GDW HCBK HTB IMH
MHL NDE NEW NFB NFI NTBK NTR PMI SFBI STSA TIN TMA TMFZ WB WFSL WIBC WM

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