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S&P Under Legal Scrutiny From SEC

Mortgage News > S&P Under Legal Scrutiny From SEC
Date: 09/26/2011    S&P Under Legal Scrutiny From SEC

The debt rating agency Standard & Poor (S&P) is facing possible legal action from the Security Exchange Commission (SEC) based on a CDO rating from 2007.

A CDO, or collateralized debt obligation, is a security that is tied to many other underlying mortgage loans.  If a CDO is given a generous rating but it’s collective borrowers default CDO investors stand to lose their investment.

S&P has been in complete cooperation with the SEC and plans to continue until the matter is resolved.
 

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