The America's Intelligence Wire articles from December 2007

The America's Intelligence Wire archives from December 2007

Florida May Roll Back CPIC Rates.
December 1, 2007... (From The Bond Buyer) Byline: Shelly Sigo Florida lawmakers are considering rolling back policyholders' rates at Citizens Property Insurance Corp., a situation that creates uncertainty for bondholders, an analyst said yesterday. ...

In Brief: Jobless Claims Fall 26,000 to 299,000.
December 1, 2007... (From The Bond Buyer) Byline: Nicole M. Smith First-time applications for state unemployment benefits decreased 26,000 to 299,000 in the week ending Jan. 6, according to data released by the Labor Department yesterday. The...

In Brief: Boston Fed President Minehan to Retire.
December 1, 2007... (From The Bond Buyer) Byline: Nicole M. Smith Cathy E. Minehan, who has headed the Federal Reserve Bank of Boston since 1994, said yesterday she plans to retire this year, ending a career that began at the New York Fed almost 40 years...

Munis Weaker Following Lower Jobless Claims.
December 1, 2007... (From The Bond Buyer) Byline: Michael Scarchilli & Matthew Posner The municipal market was slightly weaker yesterday, as weekly jobless claims fell to their lowest level in nearly six months. Traders said tax-exempt yields were...

Citing Obscure Law, Michigan Governor Vetoes OPEB Bond Bill.
December 1, 2007... (From The Bond Buyer) Byline: Elizabeth Carvlin Citing a relatively obscure federal law that she said would prompt the state's Medicaid reimbursement to be reduced, Michigan Gov. Jennifer Granholm this week vetoed a bill that would...

With General Assembly's Approval, Oswego, Ill., District to Sell $86M.
December 1, 2007... (From The Bond Buyer) Byline: Yvette Shields The Oswego, Ill., Community Unit School 308 will begin tapping a $450 million voter-approved bonding authorization next month when it sells $86 million of debt following the Illinois General...

West Virginia May Explore Tobacco Bond Sale to Fund Pension, OPEB Liabilities.
December 1, 2007... (From The Bond Buyer) Byline: Nicole M. Smith Officials in West Virginia may re-examine the sale of tobacco settlement bonds to help shore up its unfunded pension and other post-employment benefits liabilities, according to an...

Virginia's Kaine Urges Lawmakers to Pass Transportation Plan.
December 1, 2007... (From The Bond Buyer) Byline: Andrew Ackerman Virginia Gov. Timothy M. Kaine kicked off Wednesday's start of the regular General Assembly session by urging legislators to approve "reliable, long-term" funding for the gilt-edged state's...

Senate Banking Committee Chair Dodd Puts in Presidential Bid for '08.
December 1, 2007... (From The Bond Buyer) Byline: Lynn Hume Senate Banking Committee chairman Christopher Dodd jumped into the 2008 presidential race yesterday, announcing he is seeking the Democratic nomination. The declaration, which the...

S&P Puts Puerto Rico Electric Agency On Watch Following Plant Fire Damage.
December 1, 2007... (From The Bond Buyer) Byline: Michelle Kaske Standard & Poor's placed the Puerto Rico Electric Power Authority's $5.2 billion of outstanding revenue bonds on watch for a possible downgrade due to concerns about the financial effect of...

Bush to Tap Macquarie's Gribbin for Transportation General Counsel Post.
December 1, 2007... (From The Bond Buyer) Byline: Humberto Sanchez President Bush will nominate D.J. Gribbin, a member of Macquarie Holdings Inc.'s public-private partnership team, to be general counsel of the U.S. Department of Transportation. ...

Regulation: Treasury, IRS Weigh Feedback on Mixed-Use Plan.
December 1, 2007... (From The Bond Buyer) Byline: Alison L. Mcconnell Treasury Department and Internal Revenue Service officials are weighing industry feedback as they push toward finalizing proposed allocation and accounting regulations for bond-financed...

Disclosure: SEC Expected to Let MSRB Shut Down CDINet.
December 1, 2007... (From The Bond Buyer) Byline: Lynn Hume The Securities and Exchange Commission is expected to approve an amendment to its Rule 15c2-12 on disclosure that would allow the Municipal Securities Rulemaking Board to shut down its CDINet...

Arkansas Agency Could Finally Sell Toll Road Bonds This Year.
December 1, 2007... (From The Bond Buyer) Byline: Elizabeth Albanese A possible bond issue for a long-awaited Arkansas highway project could come later this year, as officials in the historically debt-averse state struggle to identify new ideas to fund...

Nassau County, N.Y., Readies First of Four Expected Ban Sales for 2007.
December 1, 2007... (From The Bond Buyer) Byline: Ted Phillips New York's Nassau County plans to competitively sell $88.4 million of bond anticipation notes Tuesday in what could be the first of quarterly Ban sales totaling $200 million in 2007 to finance...

With Bill, Texas Parks Department May See Much-Needed Debt Issuance.
December 1, 2007... (From The Bond Buyer) Byline: Elizabeth Albanese New legislation filed this week in the Texas House could pave the way for the issuance of debt for the state Parks and Wildlife Department. The measure, HB 6, introduced by Rep....

Senior Managers: M.R. Beal Notches Over $1 Billion In Municipal Underwriting Volume.
December 1, 2007... (From The Bond Buyer) Byline: Christine Albano As it closed the books on 2006, New York City-based M.R. Beal & Co.'s public finance division surpassed $1 billion in senior-managed, negotiated municipal underwriting volume for the first...

Trends in the Region: Far West Invisible Supply.
December 1, 2007... (From The Bond Buyer) Byline: Christine Albano Approval Underwriter Expected Issuer and purpose Amount* status choice sale date CALIFORNIA Golden State Tobacco refunding $3,500 A Bear Stearns/Goldman 2007 Bay Area Toll Authority rev....

Visible Supply by State.
December 1, 2007... (From The Bond Buyer) Byline: Christine Albano Jan. 11, 2007 Jan. 4, 2007 State Issues Amount Issues Amount Chg in Amt Alaska 2 $22,650,000 2 $22,650,000 $0 California 12 773,715,000 4 81,790,000 691,925,000 Hawaii 1 119,400,000 0 0...

Plain/Insured GO Yield Curves for Jan. 10, 2007*.
December 1, 2007... (From The Bond Buyer) Byline: Christine Albano State Ratings One-Year Five-Year 10-Year 30-Year Oregon Aa3/AA-/AA- 3.53 / 3.53 3.66 / 3.64 3.82 / 3.80 4.17 / 4.17 Montana Aa3/AA-/NR 3.57 / 3.56 3.66 / 3.62 3.82 / 3.81 4.15 / 4.15 Idaho...

ALASKA: Palin Appoints Three.
December 1, 2007... (From The Bond Buyer) Byline: Rich Saskal Gov. Sarah Palin named her budget director Friday, and on Sunday announced two appointments to the board of the Alaska Railroad Corp., a state-owned entity that issued its first tax-exempt...

CALIFORNIA: Matching Bond Funds Bill.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen California Senate President Pro Tem Don Perata, D-Oakland, wants to legislate a state-and-local matching fund requirement for $19.9 billion of transportation bonds authorized by voters last...

CALIFORNIA: Solano COPs, POBs Boosted.
December 1, 2007... (From The Bond Buyer) Byline: Rich Saskal Standard & Poor's Monday upgraded Solano County's taxable pension obligation bonds and its series 2002, 1999, and 1998 certificates of participation to AA-minus from A-plus. The upgrade...

HAWAII: Return to Negotiation.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen Almost a year after trying a competitive sale, Hawaii County returned to the negotiated market with Wednesday's pricing of nearly $120 million of general obligation bonds by A. G. Edwards &...

OREGON: Kulongoski Starts 2d Term.
December 1, 2007... (From The Bond Buyer) Byline: Rich Saskal Gov. Ted Kulongoski took the oath of office for his second four-year term on Monday in Salem, sounding a theme of shared opportunity and shared responsibility. "This is a great moment of...

WASHINGTON: Aquarium GOs for Expansion.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen The Seattle Aquarium Society hopes to receive up to $6.3 million in general obligation bond proceeds from the city for a $41 million expansion project scheduled for completion in June. The...

Competitive Bond Offerings.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com A letter "P" signifies that a link to the POS is on the Bond...

Competitive Note Offerings.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen Tentative dates for negotiated sales of $1 million or more. Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com A...

Results of Negotiated Sales.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen ARIZONA Littleton Elementary School District No. 65 Jan 11, 2007 $8,000,000 School Improvement Bonds, Project of 2006, Series A (2007) (bank qualified) (book entry) Dated Jan 25, 2007. ...

Results of Competitive Sales.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen FLORIDA Alachua County Jan 11, 2007 $21,435,000 Public Improvement Revenue Bonds, Series 2007A (book entry). Dated Feb 6, 2007. Due Aug 1, 2007 to 2026. Callable Aug 1, 2016 at...

Rating Changes.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen ISSUER AMOUNT CHANGE BOND ($000S) TO FROM NAME COMMENTS Abington School District, Pa., general obligation bonds 52,900 Aa3 A1 Moody Healthy financial position with improved reserve levels,...

Municipal Market Data General Obligation Yields.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen Aaa Aaa (pure) (ins) Aa A Baa 2008 3.55 3.60 3.60 3.66 3.82 2012 3.60 3.71 3.69 3.82 3.95 2017 3.76 3.89 3.87 4.01 4.14 2022 3.92 4.05 4.03 4.16 4.29 2027 4.02 4.14 4.12 4.25 4.37 2032 4.07...

U.S. Securities Prices.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen Prices as of 3 p.m. ET. Source: GovPx Inc. Treasury Bills Yesterday's Prev. Day's Yesterday's (in percent of discount) Bid/Offer Bid/Offer Bid Yield 1M -- 2/8/2007 4.880/865 4.840/830 4.966...

Short-Term Tax-Exempt Yields.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen Jan 11, 2007 Jan 10, 2007 Jan 12, 2006 Selected MIG-1/SP-1+ Notes California Rans 4 1/2s (June 07) 3.45 3.43 3.15 Los Angeles Co Trans 4 1/2s (June 07) 3.45 3.43 3.15 Michigan GO 4 1/4s (Sept...

Weekly Yields of 20-Bond GO Index and Treasury Securities.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen Latest Previous Year 12-Month Week Week Ago High Low 20-Bond Index 4.21 4.15 4.37 4.71 4.03 10-Year Treasury Note 4.74 4.61 4.41 5.21 4.35 30-Year Treasury Bond 4.82 4.72 4.59 5.26 4.51 Basis...

Municipal Bond Index Update.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen The list of bonds used to calculate the Municipal Bond Index will be revised after the Jan. 12 pricing. Six bonds will be added to the index. They are: Los Angeles Unified School...

New-Issue Balances.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen (,000 Omitted) *Since initial reoffering +Revised upward since last report Amount Date NEW OFFERINGS Sold Balance $282,250 1/11 South Carolina Transp. Infra. Bank $282,250 All Sold 77,900 1/11...

Reoffering Yields.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen NRO - Not Reoffered; S.B. - Sealed Bid; SNA - Sold, Not Available Offer Amount Date ($Mil) RECENT OFFERINGS 1 Year 5 10 15 20 25 30 Aaa -- AAA 12/12 13.0 New Caney Ind. Sch. Dist., Tex.......

Municipal Bond Prices.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen These 40 Bonds are evaluated and priced daily by Standard & Poor's Securities Evaluations Inc. All figures are rounded to the nearest eighth when reported in this table. "Change in...

Higher-Than-Expected Payrolls Data Pushes All Weekly Indexes Higher.
December 1, 2007... (From The Bond Buyer) Byline: Michael Scarchilli The Bond Buyer's weekly yield indexes increased this week, as municipals never recovered from a Friday sell-off brought on by much higher-than-expected December non-farm payrolls data....

Friday.
December 1, 2007... (From The Bond Buyer) News THE BOND BUYER'S weekly yield indexes increased this week, as municipals never recovered from a Friday sell-off brought on by much higher-than-expected December non-farm payrolls data. 36 Regions STANDARD &...

Trends in the Region: California Health Boost.
December 1, 2007... (From The Bond Buyer) Byline: Jackie Cohen California Gov. Arnold Schwarzenegger's ambitious plan to enact universal health insurance in the state could conceivably have a positive credit impact on the state's nonprofit hospitals over...

D.C. Mayor to Take On Development Agencies.
December 1, 2007... (From The Bond Buyer) Byline: Andrew Ackerman District of Columbia Mayor Adrian M. Fenty announced yesterday that he plans to appoint a task force to examine restructuring or abolishing two quasi-public redevelopment agencies that have...

Negotiated Bond Offerings.
December 1, 2007... (From The Bond Buyer) Byline: Andrew Ackerman Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Friday, January 12...

Market Indicators.
December 1, 2007... (From The Bond Buyer) Byline: Andrew Ackerman Dollar amounts are in millions Day's 2007 2007 Daily Yesterday Change High Date Low Date Municipal Bond Index 115-24 -18/32 116-26 (1/4) 115-24 (1/11) 40 Average Dollar Price 100.07 -0.48...

Bond Buyer Indexes.
December 1, 2007... (From The Bond Buyer) Byline: Andrew Ackerman Average Municipal Bond Yields -- Compiled Weekly 20-Bond 11-Bond 25-Bond 10-Year 30-Year GO Index1 GO Index1 Revenue2 Treasury3 Treasury3 2007 JAN 11 4.21 4.15 4.55 4.74 4.82 4 4.15 4.10...

The Credit Calendar.
December 1, 2007... (From The Bond Buyer) Byline: Andrew Ackerman MONDAY, January 15 Bond and stock markets are closed in observance of Martin Luther King Day. TUESDAY, January 16 The Treasury raises $998 million at its regular weekly auction of...

State and Local Government Series Rates.
December 1, 2007... (From The Bond Buyer) Byline: Andrew Ackerman Friday Monday Tuesday Wednesday Thursday Jan 5 Jan 8 Jan 9 Jan 10 Jan 11 Overnight* 3.91 3.91 3.92 3.92 3.92 Three Months 5.04 5.05 5.06 5.07 5.09 Six Months 5.09 5.09 5.11 5.11 5.13 Nine...

Municipal Bond Index.
December 1, 2007... (From The Bond Buyer) Byline: Andrew Ackerman Current Day Previous Day Week Ago Month Ago Year Ago The Bond Buyer Municipal Bond Index 115-24 116-10 116-26 116-23 114-07 Thursday, January 11, 2007 Maturity Par Call Dollar Conversion...

Massachusetts Water Agency to Sell $875 Million of Debt.
December 1, 2007... (From The Bond Buyer) Byline: Michelle Kaske The Massachusetts Water Resources Authority will sell $875 million of fixed-rate debt Wednesday that could generate a net-present-value savings of at least $3.4 million and finance the...

Special Report: Servicing Preconvention.
December 2, 2007... (From National Mortgage News) Leaders of the mortgage servicing industry will gather in San Diego next week to talk about how a changing market creates new opportunities to profit from loan administration. Highlights of the event will...

MGIC/Radian Will Have 38% of MI.
December 2, 2007... (From National Mortgage News) Byline: Brad Finkelstein The proposed merger of MGIC Investment Corp. here and Radian Group would create a combined unit that holds 38% of mortgage insurance in force. The terms of the transaction...

Top Commercial Lenders in 3Q 2006.
December 2, 2007... (From National Mortgage News) Byline: Brad Finkelstein ($ in Millions) Organization Name Location 3Q 06 Vol. 3Q 05 Vol. % Change Wachovia (E) Charlotte, NC $12,000 $11,000 9% Capmark Finance/GMAC (E) Horsham, PA $8,000 $7,000 14%...

Now, CRE Credit Worries.
December 2, 2007... (From National Mortgage News) Byline: Poonkulali Thangavelu There is a lot of capital chasing commercial real estate deals, which has led to a relaxation in underwriting standards, according to panelists at a session on credit quality...

Mexican RE Now Online.
December 2, 2007... (From National Mortgage News) Byline: Bonnie Sinnock Two U.S. companies have brought a Mexican mortgage broker in a small but promising North American cross-border vacation home market online for what appears to be the first time. ...

MLN Bankrupt Owing $92MM.
December 2, 2007... (From National Mortgage News) Byline: Paul Muolo The ailing Mortgage Lenders Network here - once a top 15 ranked subprime lender - filed for Chapter 11 bankruptcy protection last week, owing unsecured creditors $92 million. The...

HSBC Increases Reserve.
December 2, 2007... (From National Mortgage News) Byline: Paul Muolo Hammered by losses - and anticipated writedowns - on adjustable-rate second-lien subprime loans, HSBC Holdings last week increased the bad debt reserve on its B&C division to $10.56...

Fannie, FHA Eyeing ADC.
December 2, 2007... (From National Mortgage News) Byline: Lew Sichelman Fannie Mae met late week with its safety and soundness regulator about restarting its controversial acquisition, development and construction loan purchase program. At the same...

Consumer Groups Chide GSEs for Subprime Loans.
December 2, 2007... (From National Mortgage News) Byline: Brian Collins Some of Fannie Mae and Freddie Mac's friends are raising concerns about the GSEs' purchases and investments in subprime securities, particularly when the securities are backed by 2/28...

FHA Expects to See Loss Next Year.
December 2, 2007... (From National Mortgage News) Byline: Brian Collins The Federal Housing Administration single-family mortgage program is projected to incur a loss next year - the first time in the program's 70-year history - due to rising defaults...

White House Wants 'Clarity' on Where Primary Market Ends.
December 2, 2007... (From National Mortgage News) Byline: Paul Muolo & Brian Collins The Bush administration's new fiscal budget relents on the issue of portfolio limits for Fannie Mae and Freddie Mac, but calls for greater "clarity" on where the primary...

Brokers Backpedal On 'Mentor' Status.
December 2, 2007... (From National Mortgage News) Byline: Paul Muolo & Brian Collins The National Association of Mortgage Brokers quickly erased the word "mentor" from its website after a senator pointed out that they were marketing themselves as "trusted...

Editorial: Still Standing.
December 2, 2007... (From National Mortgage News) Byline: Paul Muolo & Brian Collins Will the commercial mortgage market suffer the same slow rollback most expect the residential market to exhibit in 2007? The most recent tally of commercial/multifamily...

Open Forum: The GSEs: Where Do We Stand?
December 2, 2007... (From National Mortgage News) Congressional hearings were held, and GSE reform legislation was passed in oversight committees of both houses of Congress in 2004 and 2005, although no final legislation has been enacted as of this time. I'll...

Hone Credit Models to Offset Curve's Pressure.
December 2, 2007... (From National Mortgage News) Byline: Bonnie Sinnock I'm interested - and I'm pretty sure a lot of mortgage market participants are, too - in what folks are doing or can do about the inverted yield curve that's been challenging the...

Freddie Sets June 8 as Meeting Date.
December 2, 2007... (From National Mortgage News) Byline: Bonnie Sinnock Freddie Mac has scheduled its annual shareholders meeting for June 8, when shareholders of record as of March 30 will be electing 13 members to the company's board of directors. The...

Irwin Reports Home Equity Gain.
December 2, 2007... (From National Mortgage News) Byline: James Comtois Irwin Financial Corp. saw improved fourth-quarter results for its home-equity segment from the previous quarter, although a slight deterioration in consumer mortgage credit quality....

Bancorp South Grows Net 6.8%.
December 2, 2007... (From National Mortgage News) Byline: James Comtois BancorpSouth earned $1.57 per diluted share last year, up 6.8% from 2005, despite taking a modest impairment charge in the fourth quarter. BancorpSouth said the pretax, negative...

Servicing Sales Help Flagstar Bank Cope with Challenging Conditions.
December 2, 2007... (From National Mortgage News) Byline: James Comtois Flagstar Bancorp here faced plenty of headwinds that held back earnings in the last year, but a gain from the sale of mortgage servicing rights helped offset some of the problems. ...

Farmer Mac Will Buy Back Stock.
December 2, 2007... (From National Mortgage News) Byline: James Comtois The board of the Federal Agricultural Mortgage Corp., better known as Farmer Mac, has authorized the company to continue its share repurchase program, with a view toward repurchasing...

Alliance Revamps Mortgage Operation.
December 2, 2007... (From National Mortgage News) Byline: James Comtois After Alliance Bankshares Corp. reported fourth-quarter 2006 earnings of $554,000 compared to $1.1 million for the same period last year, Thomas A. Young Jr., president and CEO of the...

E-Lending Transition Takes Time.
December 2, 2007... (From National Mortgage News) Byline: Anthony Garritano While talk of electronic mortgages and the benefits they will bring this industry are not new, there are still common misconceptions about e-mortgages that lenders should be aware...

HomeTeam Profits from TV Presence.
December 2, 2007... (From National Mortgage News) Byline: Anthony Garritano HomeTeam, producer of the nationally syndicated "cause" television program of the same name, reported a prosperous 2006, including the addition of key executives, a second season...

PA Bank is First to Fail in Two Years.
December 2, 2007... (From National Mortgage News) Byline: Anthony Garritano The Federal Deposit Insurance Corp. has arranged the takeover of a small Pittsburgh bank, making Metropolitan Savings Bank the first bank failure in over two years. ...

Mortgage Insurance Volume Dips.
December 2, 2007... (From National Mortgage News) Byline: Anthony Garritano Private mortgage insurers did $252.1 billion of primary new insurance in 2006, down slightly from production in 2004 and 2005. Members of the Mortgage Insurance Cos. of...

Franklin Shifts Portfolio Assets.
December 2, 2007... (From National Mortgage News) Byline: James Comtois As a means of improving its interest margins, Franklin Bank Corp. is planning the restructuring of approximately $580 million, or 20%, of its single-family loan portfolio from held...

Root Markets Acquires LeadROI.
December 2, 2007... (From National Mortgage News) Byline: Brad Finkelstein Root Markets Inc. here, the lead exchange platform whose chairman is Lew Ranieri, has acquired LeadROI, a mortgage lead management and customer relationship management system...

Merrill Paying $1.8 Billion for CA Bank.
December 2, 2007... (From National Mortgage News) Byline: Brad Finkelstein Moving from one end of the credit spectrum to the other, Merrill Lynch, New York, has agreed to acquire First Republic Bank, San Francisco, in a deal valued at $1.8 billion. First...

$250 Million New Mexico Land Sale Is Rich in History.
December 2, 2007... (From National Mortgage News) Byline: Jennifer Harmon It's not every day a company purchases a single piece of property twice the size of Boston. Add the fact the land was part of a 17th century land grant handed down to Spanish...

Managers Called Key to Improving Performance in Loan Sales.
December 2, 2007... (From National Mortgage News) Byline: Lew Sichelman It is one of the classic "chicken or egg" questions in the mortgage business: Who is more important to loan production, salespeople or their managers? According to Patricia Sherlock,...

Lender Embraces Builder as Client.
December 2, 2007... (From National Mortgage News) Byline: Lew Sichelman How do mortgage companies instill the disciplines of planning and focused execution in their loan production departments? For Sue Stewart, president of Cornerstone Home Mortgage,...

MBA Designing New Consumer Disclosure Form.
December 2, 2007... (From National Mortgage News) Byline: Lew Sichelman A legislatively imposed suitability test "would set fair lending back 25 years," according to the chairman of the Mortgage Bankers Association, which is advancing the idea of a...

Roundup: Early Delinquencies Land JPM Deal on Ratings Watch List.
December 2, 2007... (From National Mortgage News) Byline: Lew Sichelman Class M-11 of J.P. Morgan Mortgage Acquisition Corp. asset-backed pass-through certificates, series 2005-FRE1, has been placed on Rating Watch Negative by Fitch Ratings. Fitch...

Ace Classes Downgraded.
December 2, 2007... (From National Mortgage News) Byline: Lew Sichelman Four classes of Ace Securities Corp. mortgage-backed securities have been downgraded by Fitch Ratings, and three classes have been placed on Rating Watch Negative. The downgrades...