Here’s an update from Vikas Bajaj and Jenny Anderson of the NYT on Cuomo’s “due diligence” investigation, “Inquiry Focuses on Withholding of Data on Loans.”
But as home prices surged, subprime lenders, which market to people with weak credit, relaxed their guidelines. They began lending to people who did not provide documents verifying their income — […]
From the WSJ: S&P Slashes CDO Ratings (hat tip Barley)
Standard & Poor’s lowered its ratings on 149 tranches from 31 U.S. cash flow and hybrid collateralized debt obligation transactions worth a total of $8.74 billion.…All of the downgraded tranches come from mezzanine structured finance CDOs of asset-backed securities, high-grade structured finance CDOs of asset-backed securities, […]
From Dow Jones (no link yet): Moody’s Cuts Ratings On 46 Tranches Of Bear Deals (hat tip BR)
Moody’s Investors Service downgraded the ratings of 46 tranches and placed under review for possible downgrade the ratings of 11 tranches from eight Alt-A deals issued by Bear Stearns Cos. (BSC) in 2007. …
The collateral backing these tranches […]
From Reuters: S&P may cut $6.42 bln CDOs affecting 149 tranches
Standard & Poor’s may cut the rating on $6.42 billion of collateralized debt obligations (CDOs) following downgrades to billions of dollars worth of second-lien residential mortgage-backed securities last month.
S&P said the action affects 149 tranches from 43 U.S. cash flow and hybrid CDOs of asset-backed […]
From Reuters: S&P may cut $6.42 bln CDOs affecting 149 tranches
Standard & Poor’s may cut the rating on $6.42 billion of collateralized debt obligations (CDOs) following downgrades to billions of dollars worth of second-lien residential mortgage-backed securities last month.
S&P said the action affects 149 tranches from 43 U.S. cash flow and hybrid CDOs of asset-backed […]
From Adam Ashcraft and Til Schuermann: Understanding the Securitization of Subprime Mortgage Credit
See page 13:
Several point raised in this section were first raised in a 20 February 2007 post on the blog http://calculatedrisk.blogspot.com/ entitled “Mortgage Servicing for Ubernerds.”
Note: there is link in the menu bar for ’s UberNerd series: The Compleat UberNerd.
Here is the introduction:
How […]
From Reuters: Fitch may cut ratings on some insured mortgage bonds
Fitch Ratings on Wednesday said it may cut its ratings on certain residential mortgage-backed securities insured by MBIA Inc, Ambac Assurance Corp, FGIC Corporation and Security Capital Assurance.
Fitch said it may cut 87 MBIA-insured mortgage bonds, 64 Ambac-insured bonds, 35 FGIC-insured bonds and 19 SCA-insured […]
Our friend P.J. at Housing Wire did the world a big favor last night by sorting out the details of Fitch’s giant $5.3 billion heap o’ RMBS downgrades yesterday. Go here for the handy list of what deals were included in that.
What jumped out at me, of course, was that $783MM WaMu deal. […]
From MarketWatch: Fitch warns it may cut Ambac’s AAA rating
The AAA rating of Ambac’s bond insurance unit was put of Rating Watch Negative by Fitch, which means the agency will downgrade to AA+ in four to six weeks unless the company can boost is excess capital levels before then. A review by Fitch of Ambac’s […]
Press Release: Fitch Places 173,022 MBIA-Insured Issues on Rating Watch Negative (hat tip Mike)
Concurrent with its related rating announcement earlier today on MBIA Inc. (MBIA) and its financial guaranty subsidiaries, Fitch Ratings has placed 173,022 bond issues (172,860 municipal, 162 non-municipal) insured by MBIA on Rating Watch Negative.
Only 173,022 issues. Ho-hum.
House Price Bookmark
These icons […]
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
You are currently browsing the archives for the Rating Agencies category.
