Cha-Ching

First this;

Expanding rapidly as the nation’s largest home mortgage company, Countrywide Home Loans quietly promised investors who bought its loans that it would repurchase some if homeowners got into financial difficulties.

But now that Countrywide itself is struggling, it may not be able to do so, making it even harder for troubled borrowers to reduce their interest rates or make other changes to their loans to avoid foreclosure.

Then there's this;

Aug. 22 (Bloomberg) -- U.S. banks and thrifts suffered the biggest increase in late loan payments in 17 years as more homeowners fell behind on mortgages, the Federal Deposit Insurance Corp. said.

Loans more than 90 days past due rose 10.6 percent to $66.9 billion in the period ending June 30, the largest quarterly increase since 1990, the FDIC said in its Quarterly Banking Profile released today.

``The bottom line for banks is that the credit environment continues to be more challenging now than it has been in recent years,'' FDIC Chairman Sheila Bair said during a news briefing at the agency's Washington headquarters.

Then there's this;



Hey.. it's about 40 grand less than the Z06. I think I might becoming obsessed.