Sunday, April 22, 2007

DSL vs NEW Comparison



Most of the NEW stats are 2005 data; DSL stats are from the previous filing as reported on this blog.

Posted by CP at 1:21 AM

5 comments:

Anonymous said...

Question: I vaguely remember reading that NEW basically went bankrupt because they were unable to securtize anymore of their toxic waste, er loans, through Wall Street, which set off the whole chain of events leading to their ultimate demise. DSL, on the other hand, keeps the junk loans themselves and only flogs the Fixed rate prime stuff. So does DSL have more or less liquidity risk (ie do they need access to outside lenders/Wall street firms to continue doing business while their weak asset base slowly(?) erodes over time?

Bottom Line: If we all agree that the eventual outcome for these guys is chapter 11, what would we look for as a signal they are struggling? I thought I saw over $120M in cash on the balance sheet, that can't be that bad...

April 23, 2007 at 12:27 PM
CP said...

Take a look at my new post about the S&L Crisis.

DSL has less liquidity risk because they will have no problem getting CD deposits for as long as the government is willing to provide underpriced deposit insurance.

April 23, 2007 at 1:44 PM
Anonymous said...

Great stats. What do you mean by warehouse? It looks like like from your stats that DSL is basically a mortgage broker more than a bank.

Could you add BKUNA into the chart?

April 23, 2007 at 2:30 PM
Anonymous said...

have you done a similar comparison of NEW, DSL and BKUNA?

April 23, 2007 at 2:58 PM
Anonymous said...

You want to add a fun one, add FED.

April 24, 2007 at 1:37 PM

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