People feel disgust and distrust with institutions that bear large financial relationships with customers only to treat them with disrespect once they are in the mortgage pool.
For investors who profited from the credit crisis, the answer often lay outside the prospectus: in visiting housing developments or in picking apart one mortgage pool at a time.
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More and more investors are coalescing into groups, hopeful of reaching the threshold at which they can instruct mortgage-pool trustees to act against servicers (25% of note-holders in a given issue).
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In many cases, these mortgages are part of a pool beneath mortgage-backed securities.
The agency accused the firm of arranging a deal with a hedge fund to create a pool of mortgage securities the hedge fund could short against.
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The Securities and Exchange Commission accused the firm of failing to disclose the role of a short seller in constructing a pool of mortgage-related assets sold to investors.
The fund went to Goldman in 2007 and asked about structuring a pool of mortgage securities it intended to go short against, and Goldman was only too happy to oblige.
On Friday, here at the Clinton Global Initiative, in Chicago, HUD Secretary Shaun Donovan and FHA Commissioner Carol Galante announced yet another: a program to pool together mortgage loans on the brink of default, and save them.
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Not only are banks unable to continue lending at anything like their previous pace, but capital markets are now sucking money out of the diminished pool available for mortgage lending.
The insurance pool is the Mutual Mortgage Insurance (MMI) Fund and a Congressional mandate requires that this fund maintain a 2% reserve.
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The TARP, initially positioned as a pool of money to purchase toxic mortgage assets from banks, was ultimately used to inject capital directly into financial institutions in return for preferred equity stakes.
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If you decide to buy a mortgage-backed bond, pay attention to where the pool is coming from.
He was staying in Moscow to look for financiers for a business idea that would do for the Russian market what mortgage traders had done on Wall Street since the eighties: pool and repackage loans for investors in one massive turbine of debt and capital.
Squeezing more dollars from a shrinking pool of already stretched-to-the-limit FHA mortgage consumers is ill conceived and based on flawed analysis, and the results speak for themselves.
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