Posted on Option ARMageddon by Rolfe Winkler:
Lots of great data in this updated presentation from T2 Partners. The authors of the slideshow have a book coming out in May, More Mortgage Meltdown. (ht Paul M.)
The crux of their argument, that their is more pain to come, is based on mortgage reset/recast schedules. We’ve come through the worst of the subprime default wave, but Alt-A, Option ARM and Jumbo Prime still loom. Not to mention Commercial Real Estate.
If you’re having trouble reading some of the smaller figures in the presentation, zoom in by clicking the “+” at the top of the window.T2 Partners Presentation on the Mortgage Crisis-4!3!09 3