What Do Those Losses at Fannie and Freddie Mean?
Editor’s Note: While the courts hear arguments and decide this way and that about standing and real party in interest, the elephant in the living room is that we have highly publicized reports of...
View ArticleAFTER THE SALE: PART I
Submitted by Charles Koppa. 6/9/2010 Editor’s Note: We are starting to look at events AFTER the sale has taken place and we are discovering a number of things: CREDIT BID: Only the Creditor can submit...
View ArticleBank of America Says $10.7 Billion of Trades Wrongly Classified
The bank transferred mortgage-backed securities to a trading partner with the idea of receiving different securities later and classifying the deals as sales, the Wall Street Journal reported...
View ArticleMortgage Securities It Holds Pose Sticky Problem for Fed
STICKIER THAN THEY THINK: These are not the only mortgage securities they hold and they all amount to ownership of the risk on every loan they purchased. The purchase of course was accomplished in one...
View ArticleMass Extinction of Pools Becomes Clearer
Our good friend “Anonymous” has piped up with more vital information and expressed it more succinctly than I did. “The senior tranches have largely already been paid and closed. Since the junior...
View ArticleCountrywide settlement pays fraction to investors – Shell Game Continues
EDITOR’S NOTE: The shell game continues. While the media picks up stories about “settlements” giving rise to the presumption that Countrywide Home Loans and Bank of America and the rest of the...
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