In an effort to clarify and standardize the categories used in its CDO methodology Moody's Investors Service is considering changing its system of classifying home-equity collateral backing both cashflow and synthetic CDO deals. From now on, a home-equity loan will either fall under the prime or subprime category based on the borrower's FICO score. A loan with a FICO score above 650 will be classified as prime while a below 650 FICO score will be classified as subprime. For cashflow CDOs, there had been three categories of analysis.
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The prime jumbo RMBS transaction is collateralized by 402 residential mortgage loans.
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Diversity and metropolitan focus could provide resiliency in economic downturns
5h ago -
Federal Reserve Chair Jerome Powell was noncommittal about cutting interest rates at the central bank's next monetary policy meeting in July, saying future actions will depend on incoming data. His comments come as President Trump ramps up his criticism of the Fed chair.
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Bill Pulte, regulator and conservator of entities that buy and securitize many mortgages, also reaffirmed he's 'not happy with" lenders' main score provider.
June 30 -
Eagle + West is Brookfield's premier luxury building at Greenpoint Landing.
June 30 -
BofA Securities, Australia and New Zealand Banking Group and Japan's SMBC Bank International are joint lead managers.
June 30