Items Tagged with 'Grant Bailey'

ARTICLES

  • Fitch: It's Not Over Yet, Not By a Long Shot

    In a conference call held Thursday, Fitch Ratings said that the subprime crunch isn't over -- and is actually gaining speed, despite mass media wear-out on the subject. Glenn Costello, co-head of the U.S. RMBS group at Fitch, and Grant Bailey, director in RMBS surveillance, both said that home price declines are continuing to create significant problems in the mortgage market. "Loan modifications have not significantly reduced foreclosure efforts to date," Costello said.
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  • Rate Resets, Housing Struggles to Put More Strain on U.S. RMBS in 2007

    Several years of low long-term rates and rapid home price appreciation have come to an end, and U.S. RMBS will encounter increased challenges next year as a result, according to a new report released today by Fitch Ratings. In its Global Structured Finance Outlook report for 2007, Fitch projects that 2006 vintage subprime mortgages will perform substantially worse in the coming year, with cumulative lifetime losses ultimately reaching 7 percent, the worst collateral losses of any vintage to date.
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