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’A PrimeX primer, also featuring ABX
Last week, Fitch completed a review of U.S. Prime RMBS looking at transactions involving thousands of bonds. As a result of their review, 42 per cent of the portfolio was downgraded. Since then, a tradeable index linked to a subset of prime mortgages has been falling in value and was last seeing travelling towards par.
Walking away, datapoints du jour
Which would you choose to walk away from? Plastic or property? Cards or cribs?
From a Tuesday statement by the company behind the benchmark US consumer credit score, Fico:
MINNEAPOLIS, Feb 23, 2010 (BUSINESS WIRE) — FICO .
US banks deepen credit line cuts
US banks reduced access to revolving loans such as credit cards and home equity lines of credit for about one in five US borrowers in the six months to April, according to a study by credit scoring group Fico.
FICO those CDOs
Rortybomb has some fascinating data points on FICO scores, RMBS, CDOs and subprime lending.
FICO scores, which range from 300 to 850 and are provided by Fair Isaac Corp, were a key feature in the boom of subprime lending.