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Loan Modification

: Mortgage Lender Implode-o-Meter

State regulators take over part of Ambac's book

By Implode-Explode Heavy Industries

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"State regulators are taking control of some of U.S. bond insurer Ambac Financial Group Inc's (ABK.N) worst assets, the company said on Thursday, a move that affects some $64 billion of complex debt securities...

Ambac's capital levels have become severely strained by the mortgage crisis, which forced it to make big payouts on a number of complicated repackaged mortgage bonds and other instruments."

Full post as published by Mortgage Lender Implode-o-Meter on March 25, 2010 (boomark / email).

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