In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Wednesday, January 16, 2008

Downey Financial Non-Performing Assets (update)

by Calculated Risk on 1/16/2008 11:30:00 AM

Tanta previously noted that Downey announced they were restating their Non-Performing Assets (NPAs). Here is the graph of the new percentages from the Downey Financial 8-K released yesterday. (Credit Bubble Stocks has been on top of this story).

Downey Financial Non-Performing AssetsClick on graph for larger image.

Update: added December at 7.8%.

The graph was ugly enough; NPAs were already going parabolic.

NPAs have increased from 1.53% in June to 7.8% in December - over five fold in six months!