…just to give you an idea of the severity of these downgrades, you’ve got stuff like the M1 class of C-BASS 2006-RP2, a Scratch and Dent mortgage-backed deal issued by Credit Suisse in 2006, being revised from AA to CC, and assigned a negative outlook. These are basically bad mortgages getting worse, of course, but it does suggest that such loans are still filtering through the US financial system, or at least, through some of the ratings agencies.
Scratch(ed) and Dent(ed) RMBS
Most Popular Articles
Latest Articles
Mr. Cooper delivers $48M profit in Q1 2024
Mr. Cooper Group unveiled strong financial results in first-quarter 2024, buoyed in part by a strong servicing and subservicing business.
-
At World Properties settles the commission lawsuits
-
Mortgage demand slumps as interest rates move higher: MBA
-
Special report: The brokerages gaining or losing market share in Dallas
-
Technology’s role in rental property investment market
-
Best real estate continuing education schools for quick and easy license renewal in 2024