Market Won’t Give Thumbs Up to SEC’s Fair Value Guidance Until After Issuance of 3Q Financial Reports
October 10, 2008
Whether fair value rule clarifications issued last week will result in more accurate pricing of mortgage assets will not be known until third quarter reports come out, although the mortgage and banking industries are optimistic that fire-sale valuations will ease at least for the time being. The Mortgage Bankers Association said guidance issued last week by the Securities and...