AMI’s concerns about the National Mortgage Settlement are discussed in the following Real Clear Markets article.
March 22, 2012
The MBS Investor’s Case Against the Mortgage Settlement
Mortgage-backed securities investors are starting to boil over with righteous indignation after details on the $25 billion national mortgage settlement emerged last week. The settlement confirmed that they might have to forfeit $17-$20 billion to pay for most of the deal. As was long suspected (and covered in this space on Feb 23, 2012 in “A Highly Unjust Mortgage Settlement”), the headline figure of banks paying $25 billion for their robo-signing of foreclosure documents is bogus, and banks may only wind up paying $5 billion in cash of the overall deal. . . .
For the entire article, please click the following link:
