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Loan Modification

: Mortgage Lender Implode-o-Meter

Ambac Slumps As Company May Seek Bankruptcy Protection, Enters "Rehabilitation" Of Segregated Account

By Implode-Explode Heavy Industries

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"Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced today that, at the direction of the Office of the Commissioner of Insurance of the State of Wisconsin (?OCI?), Ambac Assurance Corporation (?AAC?), Ambac?s principal operating subsidiary, has established a segregated account for certain of AAC?s liabilities, primarily policies related to credit derivatives, residential mortgage-backed securities (?RMBS?) and other structured finance transactions. "

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

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