mortgage backed securities News

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Robo-Signing: Looks Like Citi and Wells Fargo Did It, Too

Documents submitted to a court are supposed to be true as submitted. As an attorney, if I file with a court a document in which I swore that I personally verified the information contained within the document is true, but I didn't actually do that, I'd get in real trouble. It's simple: That's fraud in the eyes of the court.

No One Should Have Been Surprised by the Plunge in Home Sales

(Aug. 25) -- Whenever there's housing news, I turn to economist Dean Baker, one of the few to foresee the housing bubble, for insight. He takes issue with this sentence from today's Washington Post story: "Analysts had expected sales to decline following the expiration of a federal tax credit for homebuyers this spring,...

Background on mortgage backed securities

A mortgage-backed security (MBS) is an asset-backed security that represents a claim on the cash flows from mortgage loans through a process known as securitization.

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