Comments on: FASB 157 and the next wave of the credit crunch http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Mon, 09 Nov 2009 22:42:54 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: black swan http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/comment-page-1/#comment-6687 black swan Sun, 11 Nov 2007 02:48:58 +0000 http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/#comment-6687 Good point Capt Ned. I believe Countrywide and Washington Mutual have already did this shell game and reclassed billions of thses loans. Good point Capt Ned. I believe Countrywide and Washington Mutual have already did this shell game and reclassed billions of thses loans.

]]> By: Morgan Brown http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/comment-page-1/#comment-6676 Morgan Brown Sat, 10 Nov 2007 22:38:09 +0000 http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/#comment-6676 Captain Ned - thanks for the clarification. PJ - that's because you are an uber-mortgage reporter. us in the proletariat are just catching up :D Captain Ned – thanks for the clarification.

PJ – that’s because you are an uber-mortgage reporter. us in the proletariat are just catching up :D

]]> By: Captain Ned http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/comment-page-1/#comment-6673 Captain Ned Sat, 10 Nov 2007 21:40:20 +0000 http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/#comment-6673 Sorry for the pseudo double-post. Sorry for the pseudo double-post.

]]> By: P. Jackson http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/comment-page-1/#comment-6645 P. Jackson Sat, 10 Nov 2007 03:35:35 +0000 http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/#comment-6645 I seriously feel like I must move too quickly for people to keep up with sometimes. I called attention to FASB 157 in early October ... not that I'm Roubini by any stretch of the imagination, but still. http://www.housingwire.com/2007/10/18/fasb-forces-mark-to-market-issue/ I seriously feel like I must move too quickly for people to keep up with sometimes. I called attention to FASB 157 in early October … not that I’m Roubini by any stretch of the imagination, but still.

http://www.housingwire.com/2007/10/18/fasb-forces-mark-to-market-issue/

]]> By: Paul Hiller http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/comment-page-1/#comment-6642 Paul Hiller Sat, 10 Nov 2007 00:11:36 +0000 http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/#comment-6642 What a great article. Thank you. I believe that we need to get everything out, and get it over with. Postponing will do more harm than good at this point. Enough players know at this point that something is up. Delaying will make it seem that there is something to hide, and I bet their stocks will get hammered even worse. What a great article. Thank you.
I believe that we need to get everything out, and get it over with. Postponing will do more harm than good at this point. Enough players know at this point that something is up. Delaying will make it seem that there is something to hide, and I bet their stocks will get hammered even worse.

]]> By: Captain Ned http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/comment-page-1/#comment-6638 Captain Ned Fri, 09 Nov 2007 21:16:28 +0000 http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/#comment-6638 The day of reckoning is not approaching as fast as you think it might. FAS 157 does not remove the FAS 115 classification system of Hold To Maturity, Available For Sale, and Trading. All these holders have to do is to put these securities into their HTM portfolios and they're instantly removed from fair value measurements. Of course, the Other Than Temporary Impairment measurements will be a bitch, but if all of the big holders push these into HTH to stop Level 1 pricing adjustments, they'll cheat the hangman for a while longer. The day of reckoning is not approaching as fast as you think it might. FAS 157 does not remove the FAS 115 classification system of Hold To Maturity, Available For Sale, and Trading. All these holders have to do is to put these securities into their HTM portfolios and they’re instantly removed from fair value measurements. Of course, the Other Than Temporary Impairment measurements will be a bitch, but if all of the big holders push these into HTH to stop Level 1 pricing adjustments, they’ll cheat the hangman for a while longer.

]]> By: Captain Ned http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/comment-page-1/#comment-6635 Captain Ned Fri, 09 Nov 2007 20:53:45 +0000 http://blownmortgage.com/2007/11/09/fasb-157-and-the-next-wave-of-the-credit-crunch/#comment-6635 All they have to do is move those holdings from their Available For Sale portfolio to their Held To Maturity portfolio and they're instantly beyond the reach of FAS 157, as FAS 157 does not eliminate the classification standards of FAS 115. All they have to do is move those holdings from their Available For Sale portfolio to their Held To Maturity portfolio and they’re instantly beyond the reach of FAS 157, as FAS 157 does not eliminate the classification standards of FAS 115.

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