1 Articles match "Collateral","Instrument","New York"

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The $3 Billion Foreclosure Payday
During the last housing slump, Paulson was a foreclosure investor, buying two distressed properties; a New York apartment and a large home in the Hampton on Long Island. During the housing boom, Wall Street began repackaging mortgage securities into instruments called collateralized debt obligations, or CDOs, and selling slices of these securities to investors at varying levels of risk. You may not know who John Paulson is, but you soon will. Last year, Paulson made $3 billion betting on foreclosures .
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • The Best from RealtyTrac MORE
  • The $3 Billion Foreclosure Payday
    During the last housing slump, Paulson was a foreclosure investor, buying two distressed properties; a New York apartment and a large home in the Hampton on Long Island. During the housing boom, Wall Street began repackaging mortgage securities into instruments called collateralized debt obligations, or CDOs, and selling slices of these securities to investors at varying levels of risk. You may not know who John Paulson is, but you soon will. Last year, Paulson made $3 billion betting on foreclosures .
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE