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Loan Modification

: Mortgage Lender Implode-o-Meter

Federal Reserve Bank of NY: Ratings Agencies Rubber Stamped Mortgage Backed Securities

By Implode-Explode Heavy Industries

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"The Federal Reserve Bank of New York is out with a report which shows the credit ratings agencies did in fact rubber stamp ?shitty? mortgage backed securities (MBS). This report is going to hurt firms like Moody?s (NYSE: MCO) which are already under investigation by the Securities and Exchange Commission. S&P (NYSE: MHP) and Fitch will be shaking too."

Full post as published by Mortgage Lender Implode-o-Meter on May 31, 2010 (boomark / email).

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