Hints and tips:
...And don’t miss Antoine and Brooke’s profile of Ogunlesi, who rose to head investment banking at Credit Suisse before founding GIP in 2006....
...For bonds backed by a single, large mortgage, the story is a little different....
...HSBC has finalised a $765m settlement over the sale of mortgage-backed securities in the run-up to the financial crisis....
...He had defaulted on the mortgage on his Neverland ranch in California, a country-style house with its own zoo, and no bank would help....
...s largest private landlords, and SL Green Realty, an S&P 500-listed real estate investment trust....
...Until 2004, about 55 per cent of all mortgage credit risk was borne by Fannie and Freddie. By 2006 this had dropped to 41 per cent....
...Deutsche’s big real estate push came against the backdrop of rapid growth in the commercial mortgage-backed securities (CMBS) market, which allowed the bank to lay off much of the default risk to outside...
...This current CEO of a large financial institution was one of the first traders of mortgage-backed securities during his time at the investment bank First Boston....
...Soon – potentially as early as next month – the US Federal Reserve is expected to raise its benchmark lending rate for the first time since 2006....
...His research suggests the costs of finance to society remain fairly static, at about 1.5-2 per cent of the total amount being intermediated....
...Average pay per head in a sample of nine European and US investment banks fell from 9.5 times the private sector average in 2006 to 5.8 times in 2012, according to research compiled by PwC exclusively for...
...The stock market dropped more than 5 per cent in a single day, while individual bank shares dropped even more....
...The funds were in- vested heavily in U.S. home-mortgage-backed securities that had become nearly impossible to value....
...The Kerzner mortgage is split between two CMBS structures – COMM 2006-FL12 and CSMC 2006-TFL2....
...Anatomy of a servicing takeover LNR recently bought controlling class-B pieces attached to three large CMBS – LB UBS 2007 C1, BACM 2006 5, and CSMC 2007 C1 – by outbidding incumbent servicer Midland Loan...
...MBS are sold by special trusts that buy mortgages and pool them. The trusts sell notes backed by the pool’s income which reflect different levels of risk....
...According to Mr Bean’s simulations, if the Fed had leant against the wind then rates would have begun to rise in 2003 rather than mid-2004, and would have peaked at 7.5 per cent in late 2006 rather than...
...District Court for the Southern District of New York, ICP began serving in 2006 as the collateral manager for what were known as the Triaxx CDOs, which invested primarily in mortgage-backed securities....
...“Heard you guys are revising your residential MBS rating methodology,” a banker at UBS wrote to an S&P employee in May 2006. “Heard your ratings could be 5 notches back of mo[o]dy’s equivalent....
...Nationwide Building Society, the UK lender, on Tuesday priced a £3.5bn ($5.7bn), three tranche, residential mortgage-backed security from its Silverstone master trust....
...Second, these loan-backed securities were issued by Wall Street banks through off-balance sheet trusts – complex structures designed to minimise disclosure and avoid capital requirements....
...Collateralised loan obligations (CLOs) and commercial mortgage-backed securities provided roughly 60 per cent and 20 per cent, respectively, of peak financing capacity in the leveraged finance and commercial...
...The Speyers and BlackRock paid $5.4bn for a “quiet middle-class redoubt near the East River”, hailed in 2006 as “the biggest American real estate deal of all time” (read: the top of the market)....
...Just how much should a debt vehicle backed by subprime mortgage bonds be worth these days?...
...… 5....
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