Standard & Poor's Ratings Services estimates that the expected loss level for deals issued in 2006 is between 5.25% and 7.75%.S&P said that while most "BBB" and "BBB-" rated classes are protected from losses, securities in those rating categories are likely to see higher default rates than other similarly rated securities in recent history. S&P arrived at its estimate by comparing deals issued in 2006 with those issued in 2000, noting that the 2006 deals have performed similarly to the 2000 deals during their first year.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
43m ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
1h ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27