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When Henry Paulson rose to lead off the series of statements that were part of the announcement of the launching of the U.S. covered bond market on July 28, many observers will have been wondering quite what all this was about.
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Since the end of 2006, as chinks in subprime mortgage collateral have turned into gaping canyons, the structured finance market has undergone a reassessment that has fundamentally altered the risk/reward analysis of securitized products. -
The U.S. residential mortgage industry continues to face significant challenges, particularly in light of the severe downturn in the subprime mortgage sector.
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The Markit ABX index, or the Markit ABX.HE index, has moved from being an arcane index tracking a set of U.S. home equity market derivatives to a widely watched barometer of the asset-backed securities markets.
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The U.K. courts recently interpreted the definition of insolvency in a way that can lead to an insolvency default being triggered earlier than before.
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Financial instruments utilized in the securitization market have been blamed by some as worsening the credit crunch.
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Structural differences in AAA subprime RMBS structures bear a significant impact on bond valuations when collateral losses are high enough to deplete senior credit support.
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Help may have arrived for the struggling residential mortgage market in the form of a Federal Deposit Insurance Corporation policy statement designed to boost the market for U.S.-issued covered bonds.
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Attempting to analyze the mountain of data provided in the Annex A of a CMBS prospectus can be intimidating.
