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DETOX Act Is On.(Special Report)
Industry talk and most headline news keep debating about how to unclog the marketplace and ensure those so-called toxic mortgage assets are taken care of. Whether the detoxifying process is conducted by the government, private investors or by cooperative public-private efforts, it seems to be less conflicting than the real key to this process: asset valuation.
It certainly is not an easy task to price such assets and even more difficult to make that price attractive to investors so liquidity returns to the market and toxic assets are off banks' books.
Opportunities for both buyers and sellers include SecondMarket. The New York-based online marketplace of illiquid assets is expanding to accommodate demand by adding products and staff. Executives say their services represent a complementary tool to government efforts to revitalize the securities market. Hundreds of firms "have expressed interest" in purchasing residential and commercial MBS, whole loans and CDO paper.
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Source: HighBeam Research, DETOX Act Is On.(Special Report)