Items Tagged with 'Moody's'

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DOJ planning to sue Moody's over crisis-era mortgage bond ratings

Ratings agency discloses looming lawsuit from government
In the fallout from the financial crisis, many argued that the credit ratings agencies’ competition for business led to ratings shopping among bond issuers and relaxed ratings standards for the ratings agencies themselves. Last year, Standard & Poor's reached a $1.375 billion settlement over just such claims. And now the Department of Justice is taking aim at Moody's Investors Service.
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Moody’s: TRID violations found in 90% of recently reviewed mortgages

Errors running rampant, credit negative for mortgage bonds
Despite CFPB Director Richard Cordray’s recent proclamation that the implementation of the new TILA-RESPA Integrated Disclosures rule was akin to the unfounded panic that surrounded Y2K, a new report from Moody’s finds the opposite may be true. Are TRID compliance violations running rampant?
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Trending Thursday: Staring right at the next housing crisis

Plus GSE reform is all sound, fury and nothing right now
There’s another housing crisis brewing, and it has nothing to do with housing price bubbles or the perpetual Fannie, Freddie conservatorship. Also, if the latest appraisal volume is an indicator of market strength, we're in trouble. All this and more.
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Embattled Ocwen upgraded by Moody’s

Ratings agency says recent MSR sales will help nonbank’s future
In a new report released Wednesday, Moody’s upgrades several of Ocwen’s ratings and writes that Ocwen’s MSR sales and the proceeds of those sales can go a long way to preserving the future of the beleaguered nonbank, but cautioned that the nonbank isn’t out of the woods yet.
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Moody’s: Home Loan Servicing Solutions sale bolsters Ocwen’s future

Is there a light at the end of the tunnel?
Maybe there’s finally some good news for embattled nonbank Ocwen Financial. In a new report, analysts from Moody’s Investors Service say that the $1.3 billion acquisition of Ocwen associate Home Loan Servicing Solutions by New Residential Investment will actually help to stabilize Ocwen’s own servicing operations and improve Ocwen’s future prospects.
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Calpers settles with S&P for $125 million

Moody’s still under pursuit
The California Public Employees’ Retirement System’s fight against two top credit ratings agencies is starting to come to a close, resolving a case involving inflated grades of residential-mortgage deals that later faltered.
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