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Volume 2010 - Number 10

March 12, 2010

ResCap Tries to Resolve Servicer Advance Netting in Response to Moody’s Review

Residential Capital has been in discussions with Moody’s Investors Service with respect to the company’s serviced residential MBS rated Baa3 and higher after the credit rating agency last week placed on review for possible downgrade more than 500 tranches from 125 GMAC-serviced deals due to “specific servicing concerns,” the company said. The review centers on GMAC’s commingling and netting of cash...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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