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<title> SecondMarket</title>
<link>http://www.secondmarket.com</link>
<description>With 3,000 members managing over $1 trillion in investable assets, SecondMarket brings together buyers and sellers in the largest marketplace for illiquid assets. SecondMarket's members include global financial institutions, hedge funds, private equity firms, mutual funds, and other institutional and accredited investors.</description>
<language>en-us</language>
<pubDate>Thu, 02 Sep 2010 13:40:52 -0500</pubDate>
<lastBuildDate>Thu, 02 Sep 2010 13:40:52 -0500</lastBuildDate>
<copyright>Copyright 2010, SecondMarket</copyright>
<item>
<title><![CDATA[Home Foreclosures Fall, but Mortgage Delinquencies Rise]]></title>
<link>http://www.secondmarket.com/articles/home-foreclosures-fall-but-mortgage-delinquencies-rise.html</link>
<pubDate>Thu, 02 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Subprime loans may now be a problem of the past as many have worked their way out the system &ndash; the critical area now is prime loans, where defaults are driven by stubbornly high unemployment
    Loans that are at least 90 days past due, the largest and most troubled group, fell to 9.11 percent from 9.54 percent in the first quarter, according to the Mortgage Bankers Association
]]></description>
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<title><![CDATA[S&amp;P Downgrades $5.64 Billion Of CDOs On Worsening Credit]]></title>
<link>http://www.secondmarket.com/articles/sp-downgrades-564-billion-of-cdos-on-worsening-credit.html</link>
<pubDate>Wed, 01 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Standard &amp; Poor's Ratings Services downgraded $5.64 billion in collateralized debt obligations because of deteriorating credit and recent downgrades on subprime residential mortgage-backed securities
    S&amp;P has lowered its ratings on hundreds of billions of dollars' worth of CDOs and RMBSs as the loans in them continue to sour
    Last month, S&amp;P warned of severe declines in credit and increases in defaults in the pools underlying trust-preferred CDOs.
]]></description>
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<title><![CDATA[Mortgage Picture Brightens, for Now]]></title>
<link>http://www.secondmarket.com/articles/mortgage-picture-brightens-for-now.html</link>
<pubDate>Wed, 01 Sep 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    The number of newly distressed borrowers increased, raising the prospect that foreclosures and delinquencies could resume their rise.
    14.4% of borrowers had missed at least one payment or were in foreclosure at the end of June
    While the mortgage crisis was driven at first by adjustable-rate mortgages that reset to higher payments, the majority of deteriorating loans are now being driven by unemployment.
    This month the administration announced a new round of $3 billion in...]]></description>
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<title><![CDATA[30-Year Fixed Mortgage at 4.36%]]></title>
<link>http://www.secondmarket.com/articles/30year-fixed-mortgage-at-436.html</link>
<pubDate>Fri, 27 Aug 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    The prolonged rally in the treasury market has prompted lower yields on debt
    The 30-year fixed-rate mortgage averaged 4.36% for the week ended Thursday
    It sits at its lowest point since Freddie began tracking it in 1971 and has set or remained at record-low levels for 10 straight weeks
]]></description>
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<title><![CDATA[Bank of America Said to Market $300 Million CLO for Tetragon]]></title>
<link>http://www.secondmarket.com/articles/bank-of-america-said-to-market-300-million-clo-for-tetragon.html</link>
<pubDate>Tue, 20 Jul 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Bank of America Corp. is arranging a $300 million collateralized loan obligation for the Tetragon Financial Group Ltd., a Guernsey, Channel Islands-based publicly traded company
    Citigroup Inc., Goldman Sachs Group Inc. and other banks are trying to restart CLOs after issuance dwindled at the end of 2007 when investors fled securities that repackaged debt amid losses on subprime mortgage securities
    Prices of the safest CLO portions have risen to 91 cents on the dollar from a...]]></description>
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<title><![CDATA[Goldman, SEC Discuss Catch-All Settlement]]></title>
<link>http://www.secondmarket.com/articles/goldman-sec-discuss-catchall-settlement.html</link>
<pubDate>Thu, 15 Jul 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Goldman recently held discussions with the SEC about a possible settlement to simultaneously resolve the fraud lawsuit in regards to the collateralized debt obligation called Abacus 2007-AC1
    Some shareholders have been pushing Goldman to seek an all-in-one settlement but the SEC will not likely agree to any broad settlement unless it was confident that the terms would withstand scrutiny from legal officials
    Some analysts have predicted that Goldman will agree to a fine of more...]]></description>
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<item>
<title><![CDATA[Goldman to Defend RMBS and CDO shorting]]></title>
<link>http://www.secondmarket.com/articles/goldman-to-defend-rmbs-and-cdo-shorting.html</link>
<pubDate>Thu, 01 Jul 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Goldman Sachs underwrote $14.5 billion in CDOs in 2006 and took short positions against only 1% of the total, according to a testimony delivered yesterday before the financial crisis inquiry commission
    Additionally, Goldman also took a 1% short position against nearly $47 billion of RMBS during that same period
    &nbsp;
]]></description>
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<title><![CDATA[Goldman unlikely to settle Timberwolf]]></title>
<link>http://www.secondmarket.com/articles/goldman-unlikely-to-settle-timberwolf.html</link>
<pubDate>Wed, 09 Jun 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    The Basis Yield Alpha Hedge Fund purchased $100 million worth of Timberwolf collateralized debt obligations in June 2007 and is now considering filing a lawsuit against Goldman over the transaction
    If Basis does sue over the Timberwolf deal, it would come less than two months after the SEC sued Goldman for civil fraud in connection with the structuring and sale of another CDO called Abacus 2007
    &nbsp;
]]></description>
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<title><![CDATA[Loan repayment acceleration is equity-negative for CLOs, say RBS]]></title>
<link>http://www.secondmarket.com/articles/loan-repayment-acceleration-is-equitynegative-for-clos-say-rbs.html</link>
<pubDate>Wed, 02 Jun 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    European leveraged loan repayments are accelerating but bid prices have fallen to a three month low, says RBS
    Loan repayment acceleration has been fuelled by a combination of secondary buyouts and to a lesser extent, IPOs
]]></description>
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<title><![CDATA[Dealers prepping new CDOs]]></title>
<link>http://www.secondmarket.com/articles/dealers-prepping-new-cdos.html</link>
<pubDate>Fri, 28 May 2010 00:00:00 -0500</pubDate>
<description><![CDATA[
    Despite growing risk aversion in the credit markets, behind the scenes dealers are working on new issues of collateralized debt obligations
    According to market rumors, Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley are all working on new CDO issues
    Citi has already tested the waters with the $525 million COA Tempus collateralized loan obligation it structured in March with New York-based CLO manager Fraser Sullivan Investment Management
]]></description>
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