Question-and-Answer Session
Operator
(Operator Instructions). We'll take our first question from Kenneth Posner from Morgan Stanley. Please go ahead.
Kenneth Posner - Morgan Stanley
Hi, Terry. Good morning to you.
Terry Edwards
Good morning to you, Ken.
Kenneth Posner - Morgan Stanley
So I wanted to ask a little about the $39 billion volume forecast that you guys are using for '08, and so you guys have built it up as you explained very, very carefully and thoughtfully. What kind of assumption are you using for the overall mortgage industry in '08 versus '07, just in terms of whatever industry sources or assumptions you are working with?
Terry Edwards
We use the Fannie Mae January forecast.
Kenneth Posner - Morgan Stanley
Okay, great, thank you. And then the other question I wanted to ask you is, you mentioned that the rating agencies have asked you to move maturities out a little bit. Can you be more specific on what you need to accomplish there?
Terry Edwards
Yeah. As a result of being under contract for a merger, our financing was stuck in place. So we would ideally like to move, access more liquidity and move the maturities out, because we are looking at our warehouse facilities have rolled over each year and we are looking at the asset-backed facilities related for the vehicle business rolling over each year. And while we just demonstrated that we could clearly get that done in the most difficult of circumstances, it's more prudent to move that out to the extent that we can get that done, that gives the rating agencies more comfort and hopefully we can start to move our ratings in the upper direction.
Kenneth Posner - Morgan Stanley
And can you remind me how much of maturing unsecured debt you have in '08?
Terry Edwards
About $200 million.
Kenneth Posner - Morgan Stanley
Great. Thank you very much.
Terry Edwards
You are welcome, Ken. Thanks for the coverage.
Kenneth Posner - Morgan Stanley
You're welcome.
Operator
We will take our next question from [Louis Syke from Tennant Capital]. Please go ahead.
Louis Syke - Tennant Capital
Hi Terry and welcome back to the world of public conference calls.
Terry Edwards
It's is nice to be back Louis. We have met yet.
Louis Syke - Tennant Capital
I had a couple of questions for you. One; around your comments that the business is right-sized for $39 billion in originations, and it sounds like you have the cost cuts in place to get that to breakeven. What is your expectation with regards to some gains on sale margins? I mean if gains on sales hold up like in the first two months of this year what kind of a profit would you see for the year?
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