Saturday, May 3, 2008

See PR Presentation Made by Treasury to Wall Street Execs.

Reuters report HERE says that Treasury Department held a series of private meetings with Wall Street executives to brief them on actions taken by Treasury Department to deal with credit and mortgage market problems. Apparently briefings are part of PR campaign to convince Wall Street that some of Democratic legislative housing proposals are not needed.

WSJ posted (to online subscribers like me) the Treasury Department presentation used during those meetings. As this presentation is by public officials it is presumably in the public domain so I have reposted it HERE to my web space.

  • Page 14 shows that Subprime loans make up 12% of loans outstanding, and 55% of foreclosures whereas prime fixed rate loans make up 63% of loans outstanding but only 17% of foreclosures.
  • Page 30 says that HOPE NOW servicers report that 36% of workouts in first quarter '08 were loan modifications, 64% were repayment plans. That's more than double the rate of loan modifications from same quarter in '07 where split was 17% loan modifications, 83% repayment plans.

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