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	<title>Comments on: A shrunken Crock</title>
	<link>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/</link>
	<description>FT Alphaville from FT.com</description>
	<copyright>Copyright The Financial Times Ltd 2006. "Alphaville", "FT" and "Financial Times" are trademarks of the Financial Times.</copyright>
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	<pubDate>Fri, 05 Sep 2008 06:21:21 +0000</pubDate>
	<lastBuildDate>Fri, 05 Sep 2008 06:21:21 +0000</lastBuildDate>
	<ttl>5</ttl>
	<language>en</language>

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		<title>by: Ex mortgage broker</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20402</link>
		<pubDate>Mon, 12 May 2008 17:41:10 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20402</guid>
					<description><![CDATA[The capitalisation of arrears seems to have worked as follows

You owe crock 200K on an interest only mortgage.  Your repayments are circa £1400 a month.  You miss 5 payments and now owe 207K (ignoring fees.)

You agree to increase the repayments to £1500 and make one payment.  

With the old policy Hey Presto no arrears you just have a mortgage for £207K interest only over 25 years.  The new policy you need to make 3 payments on time before they move it from arrears to the loan itself.]]></description>
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		<title>by: phil5</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20401</link>
		<pubDate>Mon, 12 May 2008 15:03:22 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20401</guid>
					<description><![CDATA[http://www.order-order.com/2008/05/northern-rock-shareholders-offer-to-buy.html]]></description>
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		<title>by: Monkey</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20396</link>
		<pubDate>Mon, 12 May 2008 13:05:09 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20396</guid>
					<description><![CDATA[ML chat referred to a change in basis of provisioning/capitalisation of arrears though.  If they count delinquancies as a % of loan recorded on balance sheet vs overdue capital that could distort the figure.  Effectively they are being more prudent on the amount of debt they recognise as an asset - need to know how this figure is calculated in order to assess significance of the 0.57% to 0.97% jump]]></description>
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		<title>by: Anonymous</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20394</link>
		<pubDate>Mon, 12 May 2008 12:17:07 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20394</guid>
					<description><![CDATA[Some borrowers' circumstances are likely to have changed for the worse (separation, reduction in income, credit card arrears) since taking out their N Rock mortgage,which means no other lender will touch them if the LTV is above 85% so if they have to stay with N Rock on the Standard Variable Rate they are definitely going to be struggling to meet the repayments. An increase in mortgage delinquencies is across the market, not just N Rock.]]></description>
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		<title>by: R Wyand</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20338</link>
		<pubDate>Mon, 12 May 2008 09:18:06 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20338</guid>
					<description><![CDATA[0.57% to 0.97% is a big jump, but when you put it in the context of the 5.82% rate of deliquencies they have in america it actually seems a bit reassuring.]]></description>
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		<title>by: grayder</title>
		<link>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20337</link>
		<pubDate>Mon, 12 May 2008 09:06:29 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2008/05/12/12957/a-shrunken-crock/#comment-20337</guid>
					<description><![CDATA[The first thing that sticks out to me is the jump in mortgage delinquencies from 0.57% to 0.97%]]></description>
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