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With a high proportion of fixed-rate, interest-only underlying loans, the notes have almost no amortization, and three CRE loans have standalone, investment-grade opinions.
1h ago -
The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
April 18 -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17 -
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
April 17
November 21, 2007, 12:00 a.m. EST 1 Min Read
Fitch Ratings placed $5.4 billion of rated liabilities, across 120 classes of 15 TruPS CDOs, on Rating Watch Negative today. In five of the 15 transactions affected by the ratings actions, Fitch placed the entire capital structure on Rating Watch Negative.
The ratings actions reflect continued deterioration in the credit quality of underlying issuers of trust preferred securities and subordinated debt, Fitch said, citing homebuilders, mortgage REITs and specialty finance companies in particular. The rating agency currently has a Negative Rating Outlook on the homebuilder, residential and commercial mortgage REIT sectors.
Fitch estimated that an average of 22.9% of the portfolios underlying the 15 CDOs are currently rated 'CCC+' or below, ranging between 6.6% and 45.8%, according to public and shadow ratings performed by the rating agency.
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