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Tag Archives: Moody’s

Moody’s: Home Prices to Increase, Loss Severities to Remain High

Home prices will increase over the next three years as the economy expands and servicers work through their distressed inventories, according to a report from Moody's Analytics. Home prices will rise about 4.2 percent between the fourth quarter of last year and the fourth quarter of 2015, Moody's projected. The firm also anticipates foreclosures will have less of a hold on home prices in years to come as ""fundamentals that normally drive house prices"" come back into play, including ""job growth, demographics, affordability, and supply conditions.""

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Report: Commercial Real Estate Prices Increase in February

According to data from Moody's Analytics and RCA, Commercial real estate (CRE) prices ticked up slightly in February. The Commercial Property Price Indices (CPPI) national all-property composite index increased 0.5 percent in February from the January price level, Moody&'s revealed in a release. The index's two components--apartment and core commercial--increased by 1.3 percent and 0.2 percent, respectively, for the month.

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Foreclosure Timelines Are Lengthening

Foreclosure timelines are getting longer, according to recent reports from Moody's Investors Service and RealtyTrac. In addition to this trend, Moody's highlighted the importance of net present value (NPV) models in the loss mitigation process for residential mortgage-backed securities. Foreclosure timelines increased for all servicers in the fourth quarter, Moody's reported. RealtyTrac also found the average time to foreclose went up in 39 states in the first quarter of this year compared to the previous quarter.

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Moody’s Expresses Concerns Over Weak RMBS

As Moody's rates residential mortgage-backed securities (RMBS) in post-crisis years, the firm continues to harbor some concerns about the strength of some loan pools. ""The decline of the US housing market that led to investor losses exposed limitations and flaws in many aspects of the RMBS framework,"" Moody's Investors Service stated in a report authored by VPs Kathy Kelbaugh and Yehudah Forster.

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Commercial Property Prices on the Rise, with Boston Leading Metros

In September, prices for commercial real estate increased 1.4 percent from August and 6.9 percent from a year ago, according to Moody's Investors Service's national all-property composite. The composite's components consist of the apartment and core commercial sectors. Compared to the January 2010 trough, commercial real estate prices were 28 percent higher, but prices still remain 21.8 percent below the December 2007 peak. Boston and New York led with the biggest yearly gains in commercial real estate out of six major metro areas measured.

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Key Risks for Single-Family Rental Securities: Moody’s

A surplus of REO inventory from financial institutions, demand for single-family rentals, tight lending standards - these are just a few reasons interest has developed for securities backed by cash flows from single-family rental properties. While interest has formed for good reasons, there are still risks involved. In a recent report, Moody's Investors Service highlighted two key factors that can be used to determine credit risk for such transactions: Performance of an operator or manager and the variability of the cash flow from rentals and property dispositions.

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The Aftermath of the Barclays Scandal

Barclays was rocked when it was found that the bank's agents had manipulated the London Interbank Offered Rate (LIBOR) starting as early as 2007. The bank was fined hundreds of millions by British and U.S. authorities. As a result, a number of key figures have stepped down while Barclays prepares to launch a third party-led investigation into its practices. The news gets worse for the bank, however.

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Moody’s/RCA: CRE Prices Fell in April, Major Markets Lead Recovery

Commercial real estate prices fell in April across nearly all sectors, according to Moody's/RCA Commercial Property Price Indices (CPPI). The CPPI, composed of 20 indices, showed that CRE prices in the United States were down 0.6 percent in April. Prices fell across all sectors of the CPPI with the exception of the industrial sub-sector, which saw a price gain of 1.1 percent. Compared to the last quarter, the industrial sector posted the biggest gain of 3.9 percent, but that gain still lags the recovery in the core commercial sector of which it is a part.

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More Downgrades as Moody’s Goes After Several Banks

Count another major downgrade against the global financial community. On Thursday Moody's Investors Service slashed credit ratings for 15 major financial institutions, including Bank of America, Citigroup, JPMorgan Chase, and Morgan Stanley, among others. The reason for Moody's actions: The biggest banks face too much risk from debt-saddled Europe, earnings volatility, and still-faulty mortgages stateside. The ratings agency grouped the downgraded institutions into three groups. Stocks slid for many of the banks.

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