1.Those originators and mortgage services should have those data. So, for Fed and those major originators, they may at least have a ballpark figure of the defaulting & potentially defaulting data.
2. In terms of stress test, I am quite interested in how bad the situation would be if: a). the housing price falls another 10-15%; b). unemployment rate increases another 2%.
3. I think I was wrong in terms of other ABS. As ppl default car lease and credit card before defaulting their house mortgages, maybe that field is not as detrimental as the MBS does.
4. A good news is: some lenders are renegotiating the mortgage agreements with the borrower to avoid delinquency. Though we don't know how positive impact this move could be, it's benefiting the problem-solving.
2. In terms of stress test, I am quite interested in how bad the situation would be if: a). the housing price falls another 10-15%; b). unemployment rate increases another 2%.
3. I think I was wrong in terms of other ABS. As ppl default car lease and credit card before defaulting their house mortgages, maybe that field is not as detrimental as the MBS does.
4. A good news is: some lenders are renegotiating the mortgage agreements with the borrower to avoid delinquency. Though we don't know how positive impact this move could be, it's benefiting the problem-solving.