Word: financees
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DLF, though, has a big head start on the rest of the industry, thanks largely to Singh. The amiable tycoon, known by his initials K.P., was dressed during a recent interview in a white suit with a polka-dot pocket square. He recalled how prescient strategy--and a stroke of...
? Source: Inside Mortgage Finance
The new owner of the mortgages can use them as collateral to issue bonds to finance other deals. Money from thousands of homeowners covers the interest payments on those bonds. To attract investors, the bonds are rated by risk groups, called tranches (the French word for slices). The more secure...
To further complicate the picture, some firms create new "structured finance" products, called collateralized debt obligations, from pieces of other mortgage securities. These new bonds are re-rated, creating illusion of safety even though the top-rated bonds may include very risky original loans. Last year nearly $500 billion in...
Through Aguirre's persistence, the ensuing spat spilled over to Capitol Hill. The Senate Judiciary Committee ended up holding three hearings, and in early August issued - jointly with the Finance Committee - a damning, 108-page report that largely backs up Aguirre's allegations of outside interference in an SEC investigation...