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You mean there's a secret stash of bargain priced 90% LTV jumbo money with no PMI? What are the investors in that portfolio--stupid?

*ALL* lending is being done at a 50-75% subsidized-risk discount off real market costs.... the 3.5% 30 FRM mortgage would normally be going for 7-8% if the taxpayers weren't being used as a backstop to eat the future defaults.

Now who's looking stoopid?

Dave Donhoff
Leverage Planner
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