HELOC

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Moody’s: Rapid Amortization on HELOCs a Concern 

Jan 30, 2008By

Moody’s Investors Service said Wednesday that while Countrywide Financial Corp.’s recent fourth quarter earnings report was “within expectations,” a new loss component disclosed by the nation’s largest lender may portend problems for other large securitizers of HELOCs. The area of concern: so-called rapid amortization.

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