April 2015 Remittance – Day #1 Observations
On Day #1, with 69% of the deals, we look at: 1) CPR/CDR by product and vintage, 2) losses made whole from R&W claims, 3) modifications on loans brought back from the dead, 4) an intriguing story on how the largest loss in this month’s distribution went to fund Indian films and theatrical productions, and 5) the MSR sale from BAC to SLS that occurred during the 4th quarter of 2014.
If you own BSABS 2007-AC3 or especially any BSMF bonds, it is definitely worth your while to stop what you are doing, open up the commentary and jump to page 3 to read the story on “Virginia Bollywood Investor Admits $33 Million Fraud”.
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