let me look into that
Right now I'm looking at negative amortization filings.
There have been some mentions of problems with subprime
mortgages. I'm trying to find vocabulary and ideas for
finding hints of the problem in filings.
One interesting thing I found was some filers seemed concerned
about the unenforceability of liens due to failure to pay these loans. There are all kinds of interesting issues here. It almost sounds as if ( don't take this as legal advice)
you could get the loan, knowing that defaults would not be of legal consequence, stop paying, and keep the house due
to bad faith on part of lender. In any case, this should be an interesting not-so-academic issue to sort out.

http://searchwww.sec.gov/EDGARFSClient/jsp/EDGAR_Query_Result.jsp?queryString=%22option%20arm%22%20u...

ultra-fundamentalist links

Hi,
I am glad to see the links summary to more fundamental
literature relevant to the company.
Allow me to suggest the following and also suggest
getting pubmed news alerts similar to the
google alerts( also may want to lobby uspto for something
like this as patent actions are made):
http://www.ncbi.nlm.nih.gov/entrez/query.fcgi?DB=pubmed&term=ampakine

If you know what you are looking for, you can see
examiner comments and prosecution status here :
http://portal.uspto.gov/external/portal/pair
You need to enter an application number which has to be obtained from a separate search. I have scripts to automate the steps but this site is implemented with generated code and so the scripts break everytime they make small changes to their site.
If you have interest, please send e-mail to uspto or the pair
site asking them for less restrictive access ( or create an API similar to the eutils facility at pubmed).
Patent examiner comments can give a lot of info on the
business situation from a less biased, more critical source.

Thanks.

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

Just to give you some idea, one script using 10kwizard.com would return this set of hits:
$ search10kwizs -enc -extract -raw -period "0 days" -type 24 "a"
FTWR FIRST AVENUE NETWORKS INC 27 S-8 08/31/2006 [31]FILING 446.5 KB 38
RNST RENASANT CORP 3 S-8 08/31/2006 [32]FILING 53.1 KB 10
INVC INNOVATIVE CARD TECHNOLOGIES INC 3 S-8 08/31/2006 [33]FILING 129.4 KB 8
AVCI AVICI SYSTEMS INC 6 S-8 08/31/2006 [34]FILING 39.9 KB 6
CWTR COLDWATER CREEK INC 6 S-8 08/31/2006 [35]FILING 126.3 KB 11
OMNI OMNI ENERGY SERVICES CORP 18 S-8 08/31/2006 [36]FILING 93.5 KB 16
KFT KRAFT FOODS INC 126 S-8 08/31/2006 [37]FILING 1.81 MB 192
GFR GREAT AMERICAN FINANCIAL RESOURCES INC 9 S-8 08/31/2006 [38]FILING 100.1 KB 4
MNC MONACO COACH CORP /DE/ 5 S-8 08/31/2006 [39]FILING 106.4 KB 8
MI MARSHALL & ILSLEY CORP/WI/ 24 S-8 08/31/2006 [40]FILING 68.8 KB 3
N/A TRUDY CORP 7 S-8 08/31/2006 [41]FILING 53.6 KB 15
CPTS CONCEPTUS INC 8 S-8 08/31/2006 [42]FILING 102.2 KB 6
BSG BISYS GROUP INC 20 S-8 08/31/2006 [43]FILING 49.7 KB 20

I can change the output format to use these as search criteria at the SEC site( when they get their full text search up I may not need the 10kwizard site, but it is really handy ):
RENASANT+CORP+and+filing-date=20060831+and+type=S-8
INNOVATIVE+CARD+TECHNOLOGIES+INC+and+filing-date=20060831+and+type=S-8
AVICI+SYSTEMS+INC+and+filing-date=20060831+and+type=S-8
COLDWATER+CREEK+INC+and+filing-date=20060831+and+type=S-8
OMNI+ENERGY+SERVICES+CORP+and+filing-date=20060831+and+type=S-8
KRAFT+FOODS+INC+and+filing-date=20060831+and+type=S-8
GREAT+AMERICAN+FINANCIAL+RESOURCES+INC+and+filing-date=20060831+and+type=S-8
MONACO+COACH+CORP+/DE/+and+filing-date=20060831+and+type=S-8
MARSHALL+AND+ILSLEY+CORP/WI/+and+filing-date=20060831+and+type=S-8
TRUDY+CORP+and+filing-date=20060831+and+type=S-8
CONCEPTUS+INC+and+filing-date=20060831+and+type=S-8
BISYS+GROUP+INC+and+filing-date=20060831+and+type=S-8

Well, if you teach yourself to think like a web designer there is probably someone who has a set of menus to make it happen. Or, you could get cygwin and write short scripts to do custom processing. The SEC is working on an API now. Check out
the ncbi system that I try to sell to all gov agencies and other entities who may have useful into :

http://eutils.ncbi.nlm.nih.gov/entrez/query/static/eutils_help.html

I use this for testing data mining and document analysis because it is well supported and contains the information I normally care most about. The SEC is hopefully going to implement something similar. The reason I am here is that yahoo trashed one of its best features- the ability to programmatically create URL's to access message boards.
I had written scripts that catagorized authors by the domains in the links they cite- people who regularly pointed to scientific documents became easy to separate from the political posters.

I have been trying to figure out how to do automate analysis of filings since right now it is hard to find key words or
other stats to cluster documents.

I have several like this for non-sec filings ( some others that
cluster authors by their use of links):
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Sectors/Healthcare/Biotechnology_...



These are the kind of things I have been doing with sec documents:

http://messages.finance.yahoo.com/Consumer_Non-Cyclical/Food_Processing/threadview?m=tm&bn=367&a...

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Sectors/Financial/Misc._Financial...

http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Sectors/Healthcare/Biotechnology_...

If you can find my posts on yahoo, I have scripts for extracting a lot of this from 10kwizard.com results and creating various staistical and other summaries. I have been looking for a "toxic" filings system, I'll be sure to to try the link you provide. Also note that the SEC is quite receptive to ideas for the API for their full text search. If you have seen the pubmed ncbi eutils API, it is really great for automated search and analysis. Hopefully, the SEC will implement something so I don't have to parse html/formated results from 10kwizard and provide additional search features.

Finding toxic filings shouldn't require artificial intelligence. The SEC may also be interested in commentary on accounting or at least filings standards (xml variants for example) that allow computer understanding to be a little easier.