During the real estate boom Countrywide created hundreds of securitization trusts, selling certificates backed by residential mortgage loans.
Two of the firm's strongest businesses, fixed-income and mortgage origination and securitization, have taken hits.
But investors in rental securitization should expect rent prices to drop, not rise precipitously.
Securitization of mortgages started in the eighties, the brainchild of Lew Ranieri then at Salomon Brothers.
These three are credited as the fathers of the mortgage-backed security and the process of securitization.
FORBES: You Are There: A Review of "All The Devils Are Here"
Hirano has become a kind of guru on property securitization, consulted by companies contemplating similar moves.
We called up Tom Deutsch, Deputy Executive Director with the industry group the American Securitization Forum.
JPMorgan Chase is usually mentioned as a likely buyer of the firm, attracted to its brokerage and mortgage-securitization areas.
In the 2000s, Spanish banks emulated U.S. banks in the aggressive use of securitization.
Finally, securitization of commercial mortgages continues, though at a small fraction of its former pace.
The U.S. started the global slowdown with the August 2007 breakdown of securitization and is recovering first.
The government also is still trying to sort out the mess involving mortgage securitization and fouled-up paperwork.
No-one ever answered my question by pointing to the securitization of such loans and their sale to others.
FORBES: Don't Make The Fed A Sugar Daddy To Consumer Protection
Bank of China's interest in securitization coincides with an unprecedented start to the year for the commercial-mortgage-bond market.
He has recently developed a research interest in understanding the securitization and structural violence of the Ebola Virus Disease in Africa.
It was shattered in August 2007 with the breakdown of the securitization process.
Sallie Mae packages loans for securitization and telescopes the net spread into earnings.
First, securitization of U.K. consumer, mortgage and business debt has all but collapsed.
Mr. THOMAS DEUTSCH (Deputy Executive Director, American Securitization Forum): The securitization markets are as frozen as a polar icecap.
Bill Heskett, managing director of asset-backed securities for Bank of America Merrill Lynch, is also bullish on solar securitization.
For the American Securitization Forum, the trade group largely behind the subprime mortgage explosion, REO-to-rental is the hottest new idea.
Washington Mutual records those profits on the securitization immediately, instead of spreading them out over the life of the underlying loans.
Paulson focused on the folly of taking a pool of mortgages, and adding layers upon layers of additional securitization pools.
The companies have long argued that the government is not adequately staffed to manage the securitization of billions of dollars of mortgages.
Bair would like to see banks hold onto the loans they make rather then sell them off to Wall Street for securitization.
Also, the vast machinery of securitization will create some barriers to restructuring.
So expect to see a big push for so-called solar securitization.
FORBES: SolarCity Prices Its IPO But Is It A Solar Company Or A Financial Firm?
Securitization of mortgages played a big part because it meant mortgage servicers had no real incentive to impose strict credit standards on borrowers.
To "change what's broken about the banks, " it needs to encourage securitization of "good" loans, and it needs to reform executive compensation structures.
Rating agencies also drank the Kool-Aid and gave AAA ratings to this stuff, which, thanks to securitization, was spread all around the world.
应用推荐