.

Economic Update for February 8, 2013

This week the United States, California and many other states, governments and funds sued the rating company Standard and Poors. This was over ratings given to mortgage securities that collapsed.

This week the United States, California and many other states, governments and funds sued the rating company Standard and Poors.  This was over ratings given to mortgage securities that collapsed. This is a major step in making mortgage securities credible and saleable. The rating companies were never held accountable for giving high ratings to mortgage backed securities that became toxic assets. Until now, they have never been held accountable for what many believe was high ratings in return for high payments from a mortgage backed securities packagers.  It is the hope that stiff penalties will give investors confidence in the ratings in mortgage back securities ratings. This will be a major step in renewing confidence in the mortgage securities market,  which is the way money is raised for home loans.  
-Syd Liebovich
Owner - Rodeo Realty

This is great news for sellers and buyers!
If you are interested in buying or selling, I would like to work for you.
Kyle Eisenhart
310.867.0563 
kyle@kyleeisenhart.com

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something