Credit Suisse

First Jumbo Mortgage Securitization of 2011! And A Word On The Budget.

The jumbo market is making baby steps. Redwood Trust Inc. is marketing a $280 million residential mortgage-backed security, the first private deal of 2011, backed by a mix of fixed-rate and adjustable-rate mortgages. According to news on the issue, the average loan size is $978,000 and the average FICO score is 775 – pretty similar

State of Mortgage Industry, Discount Rate Projections

State of Mortgage Industry Let’s start off with two basic premises. First, there has always been a range of borrowers (credit & risk-wise) that need home loans at rates that match the risk. Second, there have always been investors out there with varying degrees of appetite for risk, and demand more return for higher risk.

Swiss Government To Save UBS, Will Get 9% Non-Voting Stake

UBS and its predecessor organizations have a long and global reputation for safeguarding the assets of the world’s wealthy people and entities. Now that the bank is buckling under the weight of its $48 billion in write downs so far this year, the Swiss government clearly recognizes how importance of keeping UBS alive and will

Mixed Bank Earnings, Rates Down on Jobless Claims

What time of day am I most likely to have a heart attack? Answer, per a Harvard study, is that the most dangerous times for heart attack, and for all kinds of cardiovascular emergency, are the morning and during the last phase of sleep. The risk averaged 40% higher of having a heart attack between

Economist: Sorry State of Industry May Save UBS

In its take on UBS and the general malaise of Swiss banking, the Economist this week said that even though predators may be circling to grab opportunities in any breakup, the “generally sorry state of its industry” may be its saving grace as “few would-be buyers have the ready cash for such a large deal.”