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  • Wall Street Breakfast: Must-Know News [View article]
    You missed what might become an important development. Triad Guarantee basically went belly up yesterday. Triad provided guarantees for the top 10-20% of mortgage pools in 06, 07, 08. Many Wall Street firms have already taken losses on paper the acquired with the Triad chomp.

    Heres the story that may become significant. Triad guaranteed a lot of paper that ended up in FNM/FRE.

    This week FRE finally eliminated Triad as an acceptable counter-party. Just a little bit late.

    Keep in mind that the Agencies have taken no losses or reserves on this
    Jun 20 10:07 am |Rating: 0 0 |Link to Comment
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