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Rating Agencies Cuts and Mortgage Default OutlookThis is a discussion on Rating Agencies Cuts and Mortgage Default Outlook within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; FDIC’S Bair is seeing a rash of first year defaults on Alt-A mortgages and sees more pain in months ahead ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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FDIC’S Bair is seeing a rash of first year defaults on Alt-A mortgages and sees more pain in months ahead as subprime and non-traditional mortgages reset. S&P and Moody’s are going "cut crazy": S&P Cuts 114 ratings on 17 US CDOS of ABS, ...
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| agencies, cuts, default, mortgage, outlook, rating |
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