Moody’s warns of jumbo mortgage strategic defaults

Projected losses on securities backed by subprime mortgages are beginning to stabilize, according to Moody’s Investors Service, but the risk of borrowers defaulting on jumbo loans is growing. The subprime borrowers most at risk of defaulting already have, analysts said .

 · Here’s a nice warning from Moody’s about jumbo mortgage defaults: With home prices likely to slip further in 2012 the risk of jumbo mortgages, yet to refinance out of security pools, will be at a growing risk of strategic default, Moody’s Investors Service said in a forecast Thursday.

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Private investors in residential mortgage-backed securities (RMBS) comprised of jumbo mortgage loans are dealing with a greater risk of strategic defaults, according to Moody’s Investors Service.

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Posts about financial markets written by Fox. Some relief may be in store for the battered residential real estate markets in California, New York, and other high cost states, as Freddie Mac announced on Thursday that it will buy jumbo mortgages in areas with high real estate prices from four of the largest U.S. mortgage lenders.. Freddie Mac’s purchase of conforming jumbo mortgages is.

MBA Hall of Honor gives back to military veterans As FHA Mortgage Volume Increases From 2009, Serious Delinquencies Spike As FHA Mortgage Volume Increases From 2009, Serious Delinquencies Spike GMAC Loses $5bn on Mounting Mortgage Woes UK Banks May Lose Nearly $400bn on Loans, Securities, Says Moody’s$1.2 billion Fannie, Ginnie bulk MSR portfolio for sale FDIC sues 12 banks over mortgage bonds sold to Colonial He declined to say exactly how much the FDIC agreed. made mortgage and auto loans to customers with checkered credit and then packaged those loans into securities to be sold to investors. In 1999,MountainView Servicing group announced wednesday the offer of two MSR portfolios with combined unpaid principal balances of $2.1 billion. One is a $635 million Fannie Mae A/A portfolio that will bid on September 19. The other contains Ginnie Mae MSR’s worth approximately $1 billion and approximately $500 million in MSRs from Fannie Mae.Mortgage Bankers Association (MBA) is inducting 17 companies into the Hall of Honor program. The Hall of Honor recognizes both corporations and individual corporate leaders for their commitment to veterans and active-duty military personnel.House Committee approves Mortgage Choice Act  · The House Financial Services Committee is looking to bring the bill to the floor for a vote by the end of May; however, if certain committees do not waive jurisdiction, then the process may take longer, and timing on such vote is determined by the leadership in the House once all committees have waived jurisdiction or approved the bill.

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