Word: mortgagees
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Dates: during 2000-2009
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In addition to getting private equity involved, some of the money from the remaining TARP capital may go to mortgage relief. According to MarketWatch, "The Treasury Department also is expected to use between $50 billion and $100 billion of the bank bailout program to fund a mortgage-mitigation proposal to...
Pricing plain-vanilla mortgage-backed securities (MBS), which are based on thousands of home loans, isn't easy. But MBS are only the tip of the troubled bank iceberg. Lurking below are bonds that are more complicated, and much more difficult to value. Among the most confounding are collateralized debt...
So what is Strata worth today? Certainly not the original $20 million it's investors paid for it. According to research firm Markit, the average CDO tied to mortgage bonds lost half its value last year. CDOs based on corporate bonds have performed better. However, Strata sold insurance against high...
Warning signs are already erupting in parts of the U.S. hard hit by the housing crisis. In Los Angeles, calls into the suicide prevention call center run by the Didi Hirsch Community Mental Health Center spiked 65% in the second half of 2008 over the previous year. There has also...
One reason servicers haven't more wholeheartedly adopted bolder tactics is lingering concern over getting sued by investors who are ultimately entitled to the loan payments through mortgage-related securities. Servicers are contractually bound to act in the interest of investors overall, but they might still not rewrite loans, even...