Standard & Poor's, New York, has warned that mortgage-related downgrades of bond insurers could have ripple effects that disrupt new areas of the market and possibly cause problems for some banks. "Bond insurers are sufferings as a result of their roles as guarantors of mortgage-related securities, and downgrading them could affect all markets in which they are active, including the municipal bond, commercial mortgage-backed securities, and other structured finance areas," S&P credit analyst Tanya Azarchs said. She added, "The specific, identifiable effect on banks may be significant and, in a few cases, could lead to downgrades." Bond insurers that S&P has downgraded include Financial Guaranty Insurance Co. and ACA Financial Guaranty Corp. In addition, S&P has placed the top investment grade ratings of MBIA Inc., Ambac Assurance Corp. and Security Capital Assurance Ltd. on CreditWatch Negative.
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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 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27