Showing 1 - 7 of 7
Persistent link: https://www.econbiz.de/10009260122
Persistent link: https://www.econbiz.de/10009490237
Persistent link: https://www.econbiz.de/10009716485
Persistent link: https://www.econbiz.de/10011447638
Initial yields on both AAA-rated and non-AAA rated mortgage-backed security (MBS) tranches sold by large issuers are higher than yields on similar tranches sold by small issuers during the market boom years of 2004-2006. Moreover, the prices of MBS sold by large issuers drop more than those sold...
Persistent link: https://www.econbiz.de/10013116600
We examine whether rating agencies (Moody's, S&P, and Fitch) reward large issuers of mortgage-backed securities, who bring substantial business, by granting them unduly favorable ratings. The initial yield on both AAA-rated and non-AAA rated tranches sold by large issuers is higher than that on...
Persistent link: https://www.econbiz.de/10013122218
We study rating shopping on the MBS market. Outside of AAA, losses were higher on single-rated tranches than multi-rated ones, and yields predict future losses for single-rated tranches but not for multi-rated ones. Conversely, ratings have less explanatory power for single-rated tranches. These...
Persistent link: https://www.econbiz.de/10013007289