Items Tagged with 'Credit Suisse Group'

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  • Credit Suisse Sells AIG Non-Conforming MBS Securities

    Credit Suisse Group breathed some life in the securitization market this week, after selling securities backed by non-government-guaranteed mortgages to a group of institutional investors. It is one of the first such sales in more than a year. The notes carry a balance of $1.6bn and the transaction should be completed by the end of this month.
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  • Fed Expands Loan Facilities; Banks Establish $70 Billion Fund

    Updating an earlier email subscriber exclusive sent out last Friday, ten banks said Monday that they've established a $70 billion borrowing facility to bolster liquidity among a battered financial market in the wake of the failure of Lehman Brothers Holdings Inc. [stock LEH][/stock] and the sale of Merrill Lynch & Co. [stock MER][/stock] to Bank of America Corp. [stock BAC][/stock].
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  • For the FDIC, a Servicing Transfer of Historic Proportions

    For all of the press that the failure of IndyMac Bank has generated in recent weeks -- it was the largest thrift and the second largest financial institution to ever have failed, after all -- it's what hasn't gotten press at all thus far that is much more likely to be the largest test of resources at the Federal Deposit Insurance Corp., as it seeks to sell off the bank's assets.
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  • A boutique business in fraud

    Because we've been talking about fraud here in the BuzzPost, a little blurb at the Wall Street Journal Friday caught our eye. It appears two gentlemen out of New York thought it would be a good idea (allegedly, of course) to skim off the top of refinancing activity sold to Fannie Mae, and to "recreate" payment histories for subprime borrowers that had, shall we say, histories more indicative of non-payments. From the story:
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