Posted on June 5th, 2008 in Mr Mortgage - News Picks of the Day!
National Mortgage Delinquency Hits 29-Year High! – Mortgage News Daily . The default rate jumped 53bps to 6.35% in Q1 2008. Enough said.
2:30pm EST – S&P Lowers MBIA and Ambac Ratings…Finally! No link to the story yet because it just happened. All I have to say is kudos to you Bill Ackman of Pershing Square! You’ve been ridiculed by analysts and CNBC commentators for months about being “a short who is lying.” Now we know who the liars and deceivers are. Now they’re ganging up on David Einhorn over his views of Lehman. He will be proven right as well.
5:21pm EST – Read about the downgrade here. <>