Relevant:
- Credit Woes may "widen"
- Underwriters Marching to Lenders' Tune; The Next Generation of Borrowers; New Faces at the Closing Table; MBS Trading Margins
- Moody's and S&P not "underwriters," judge rules
- Florida reverses requirement to license mortgage loan underwriters
- SEC filing in ResCap case indicates broad sweep in MBS probes
2007-09-23 — safehaven.com
"With buyout bingo in reverse, underwriters are paying breakup fees to keep the large loans off their books. As long as investors were willing to take on risk (buy junk at insane prices), the underwriters danced the tune."
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