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The performance of private-label residential mortgage-backed securities (RMBS) continues to face many challenges in 2012, with the biggest risk posed by strategic defaults, according to Moody’s.
Bank of America reaches multi-billion dollar deal with Fannie Mae Bank of America reaches multi-billion dollar settlement with Fannie Mae Tweet Bank of America has reached a settlement with Fannie Mae on residential mortgage loans sold by the bank and its Countrywide unit to the agency ahead of the nation’s 2008 financial crisis.
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Series of CDO downgrades by credit rating agencies led to enormous losses for investors around the world. Top-rated CDO tranches were devalued in late October 2007 due to expectations of..
By Henry C.K. Liu Part I: Commercial Paper Market Seizure turns Banks into their own Vulture Investors This article appeared in AToL on November 27, 2007 Vulture restructuring is a purging cure for a malignant debt cancer. The reckoning of systemic debt presents regulators with a choice of facing the cancer frontally and honestly by excising the invasive malignancy immediately or let it.
Alt-A Losses Outstripping Expectations, Moody’s Says Home price stall-out spreads from lower-priced homes to higher end The lack of inventory is particularly pointed in lower-priced homes, keeping first-time buyers on the sidelines. The low inventory has driven prices up rapidly. upturn in pending home sales.
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Additionally, the continued deterioration of the housing market has also contributed to the increased loss expectations for Alt-A pools. The actions listed below reflect Moody’s updated expected losses on the Alt-A sector announced in a press release on January 22, 2009, and are part of Moody’s on-going review process.
The expected loss parameters will be determined by using historical statistical relationships and macroeconomic predictions. For the portfolios outside the IRB approach, existing framework for loan loss provisions will be applied to set the parameters to measure credit risk. The lifetime risk assessment will be based on historical observations.
"Moody’s now expects that a trough in home prices will not be reached until the middle of 2010. In addition, based on recent loan loss severities, Moody’s will increase its projected lifetime loan losses for pools backing U.S. Jumbo, Alt-A, Option ARM, and Subprime RMBS issued between 2005 and 2008."
Case-Shiller: Home prices continue to slow as housing stalls TRID grace period bill looks for a plan B Is A TRID Grace Period In The Works? | Easy Soft – The House of Representatives took matters into their own hands and voted on a bill that would formalize a hold harmless grace period regarding TRID changes shortly after the October 3 TRID implementation date. HR 3192 passed the House and now moves on to the Senate. HR 3192 Was A long time comingcase Shiller: Home prices continue to slow as housing stalls. – "Today’s Case-Shiller data continues the national slowing trend we’ve been seeing for much of the past few months. But a broader look at more recent data shows that local . . .