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BarryM
Dud?


Joined: 23 Feb 2012
Posts: 3

Mandatory Pool Insurance
PostPosted: Fri Feb 24, 2012 12:05 am Reply with quoteBack to top

Does anyone know how and when pool insurance stopped being required on loans being sold into the marketplace? It was mandatory that all loans that were securitized had to be insured with at least a AA rating before they could be sold. That would be the first domino that fell if someone knows who approved it I would like to know!
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BarryM
Dud?


Joined: 23 Feb 2012
Posts: 3

Re: Mandatory Pool Insurance
PostPosted: Fri May 04, 2012 2:37 pm Reply with quoteBack to top

The pool insurance I spoke of was specific to pools of loans and individual loans that were sold into the secondary market prior to being issued in mortgage backed securities. Somehow and sometime since 1990 it was either abolished or greed completely took over the market and companies were allowed to do private issues without any or at least not enough insurance to protect the investors. At the very least the service companies were keeping the insurance money when the "pool" of loans failed.
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