I know, I know. Subprime is so, like, 2007. And most of the financial press has moved onto sexier mortgage words like "option ARMs," or "FHA loss reserves."
That said, I thought it would be interesting to dive back into subprime waters, taking a granular look at individual deal performance using November remittance data from that old standby, the ABX. (For those that don't recall, the ABX index was launched by Markit in 2006 to track the private-party subprime RMBS market — and it allowed some hedge funds an easy mechanism to short the market for subprime mortgages.)