Items Tagged with 'rubber'


  • Wells Fargo is $25 Billion Richer, Thanks to TARP

    The rubber is hitting the road, now that the government has begun doling out taxpayer funds to key banking institutions. Wells Fargo & Co. [stock WFC][/stock] got $25 billion from the U.S. Treasury yesterday, as the first of the $700 billion in U.S. Treasury funds was doled out to key banks, the bank said in a press statement.
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  • Ocwen Steps Up Loan Mods, Confounds MBS Investors

    It looks like the rubber is finally beginning to meet the road when it comes to massive loan modification activity and its effect on RMBS and derivative investors. Case in point: Ocwen Financial Corp. [stock OCN][/stock], a large subprime servicer, has left MBS investors both angry and nervous after several deals serviced by the company experienced significant interest shortfalls on senior ABS securities in the month of May.
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  • Crucial Industry Conference Looks at Subprime Securitization

    As worrisome industry headlines continue to appear on a daily basis -- some informed, some not -- financial industry professionals deep in the trenches of the mortgage-backed securitization market are preparing to gather for a crucial industry conference. Held this year from April 29 - May 2 at the Loews Hotel in Miami Beach, the Spring ABS Show will bring together more than 1,500 individuals who originate, structure, rate, sell, package, securitize and invest in mortgage backed securities. Front and center at this year's conference: the sub-prime mortgage market.
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