No idea. I would suspect it comes down to loan amount and carrying charges. There will be a difference between a $100K loan and a $1M loan. If it is costing $1-3K a month additional carry for the REO and taxes, they might look for 50% on the small loan and 80% on the higher. Or it could be 70% on both.

It will always come down to what their audit department will sign off on. That is why it can take time for them to respond to offers.

Fitch estimates that total losses on subprime residential mortgage backed securities and collateralised debt obligations will be about $400bn. Half of the potential losses sit with banks and they have already disclosed 80 per cent of them.

For what it is worth, as a consumer of the photos, I would not mind seeing the caption ON the photo, not in a text box below. If the photos are high-enough quality, one can print out for the spouse, etc, and having the description on it appeals to me. It is not a hard thing to do.

LOL – was wondering why chi was coming to your defense.

“Data comes from an economic consultant. I can send it to you through grim if you really want to see it.”

as to the trillion $ stashed in the bank – yes, I’d be interested in seeing that. I’m not sure what that would mean. Is that just cash and cash equivalents listed assets on public company balance sheets? There are so many companies that aren’t public and are providing virtually no financial transparency whatsoever (what’s the market cap of all of Cerberus’s portfolio companies, and how much cash on hand do they have? That’d be a fun party guessing game – pin the tail on the corporate liquidity).

I can tell you this: I’m getting a lot of requests these days from corporations that want me to be creative in finding ways to provide executive compensation in a manner that does not require the company to lay out any cash.

433 – “US companies have more than $1 trillion stashed in the bank”

“You’re usually careful about numbers. Where did you find these?”

Data comes from an economic consultant. I can send it to you through grim if you really want to see it.

442 – http://njrereport.com/files/US_layoffs_data_from_Challenger.pdf

and one more question – do banks have guidelines on what % are they willing to lose to short sale???

However, I always advocate throwing cash at problems. Amending options is to be avoided.

433 – “US companies have more than $1 trillion stashed in the bank”

“You’re usually careful about numbers. Where did you find these?”

Data comes from an economic consultant. I can send it to you through grim if you really want to see it.

442 – http://njrereport.com/files/US_layoffs_data_from_Challenger.pdf

I think so too. Deleting cookies didn’t help either.