The state Supreme Court ruled on Wednesday that California’s public employee pension system can sue Moody’s and Standard & Poor’s for hundreds of millions of dollars due to the high ratings they gave to investments that collapsed in 2007 to 2008.
Commercial-mortgage backed securities Standard & Poor graded in 2011 are under question after McGraw Hill Financial said it received a notice from the U.S. Securities and Exchange Commission that the regulator may seek an enforcement action.
W.P. Carey Inc.’s merger with its publicly held, non-traded real estate investment trust affiliate, Corporate Property Associates 16 – Global Incorporated, officially closed on Jan. 31, growing the company’s equity market capitalization to approximately $5.9 billion.
Standard & Poor's told a judge that the firm's credit ratings are opinions protected by state law and should obtain the same protections as newspaper editorials. This is the firm's defense as it fights government claims over pre-housing crisis mortgage-backed securities ratings.
Standard & Poor's eased its rating standards for bonds tied to home loans in an effort to drive business in the summer of 2012, the DealBook claims. While business has grown since then, the ratings giant is now facing criticism over its less stringent criteria.
All of the sectors of the housing economy now — real estate, lending, servicing and investing — are navigating unchartered territory. The challenges are new and the processes scrutinized as never before. Against that backdrop, we at HousingWire thought it was appropriate to recognize the tremendous leadership within the mortgage space with our first annual HW Vanguard Awards. Companies in our business couldn’t have survived the crisis, or formed in this brave new world, without serious leadership..
On the multi-borrower side, the potential for volume is massively larger than on the single-family side, but the challenge until now has always been on how to scale this side of the business.</p> Read More
Over the past eight years, housing counselors and the mortgage servicing industry have learned a lot, and it’s our joint responsibility to avoid the mistakes of the past, to maintain momentum, and to create new pathways for homeowner-centric loss mitigation practices that have sustainable homeownership as the No. 1 objective. Read More