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Loan Modification

: Mortgage Lender Implode-o-Meter

Moody's and S&P not "underwriters," judge rules

By Implode-Explode Heavy Industries

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"A Manhattan federal judge said on Tuesday it is unfair to hold Moody's Investors Service and Standard & Poor's liable as "underwriters" on securities offerings needing their ratings, as he rejected fraud claims by investors on the safety of $63.4 billion of mortgage debt."

Full post as published by Mortgage Lender Implode-o-Meter on June 01, 2010 (boomark / email).

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