Tag:
MBSs
Latest Headlines
Latest Headlines
A muddled, unsatisfying end to the GSE saga?
So are Fannie Mae and Freddie Mac victims or perpetrators of the one of the great financial frauds in recent memory? Judging from the spate of regulatory activity, the only conclusion is that they
Allstate sues Goldman Sachs
Is the legal pile-on just now starting? We're certainly seeing more big investors in MBSs and the derivatives built on those MBSs filing lawsuits against big banks. The latest was Allstate, which has
Legal burdens over MBS continue to mount
When Bank of America announced it had agreed to pay $8.5 billion to settle a suit by aggrieved MBS holders, the knee-jerk reaction was to conclude that it--and the industry--was making great strides
Mortgage industry clings to old ways
The consumer mortgage business has lost a lot of credibility since the start of the foreclosure fiasco. Few days go by without some reminder that industry's perceived lust for profits at any costs
Credit rating agencies competing to be the toughest
Is this a reflection of the new credit rating industry in action? We've noted that the financial reform movement didn't radically alter the credit rating business, to the chagrin of some critics who
PIMCO to raise new fund for distressed bonds
PIMCO has fared well as a vulture. Since the onset of the credit crunch, it has raised more than $5 billion to invest in distressed MBSs. The PIMCO Distressed Mortgage Fund generated a 54 percent
