Reps and Warrants on New Jumbo MBS Seen As Providing Investors with Mixed Protection
March 13, 2015
The representations and warranties used in jumbo MBS can sufficiently handle some breaches but fail to completely protect investors, according to Moody’s Investors Service. In a report released this week, the rating service noted that issuers use two main varieties of reps and warrants: those that allow for an open-ended review of loans and those that employ a prescriptive framework. The open-ended reviews are seen in jumbo MBS from Redwood Trust, WinWater Home Mortgage and others...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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