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
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