As lawmakers continue to probe problems that led to the subprime mortgage meltdown, a look at how the credit rating agencies assess structured finance products like mortgage-backed securities and collateralized debt obligations will be the subject of two hearings next week.
The Senate Banking Committee will hold a capital markets subcommittee hearing on Wednesday and the House Financial Services Committee's capital markets subcommittee will follow suit on Thursday, the American Banker reported today.
Christopher Cox, the chairman of the Securities and Exchange Commission, John Coffee, a law professor at Columbia University, Lawrence White, an economics professor at New York University, Michael Kanef, the managing director of Moody's Financial Services's asset finance group, and Vickie Tillman, the executive vice president for credit market services at Standard & Poor's will testify at the Senate Banking hearing.
Witnesses for the Financial Services hearing have not been announced.
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Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
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Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
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After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
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Price guidance was not available on the series 2024-1, the database notes that the series 2024-2 class A notes are expected to price between 63 and 65 basis points over the three-month interpolated yield curve.
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But the number of properties whose mortgage is more than 90 days late is at its lowest since 2006, ICE Mortgage Technology said.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19