Jules Kroll, whose world-famous detective agency of the same name uncovered the hidden fortunes of dictators Ferdinand Marcos and Saddam Hussein, is snooping out the cracks in bond issues for investors – “…they’re the ones responsible to all these pensioners and all the folks whose money they manage.”
Also from Risk Professional magazine’s October cover story:
Kroll on Residential Mortgage Backed Securities: “We’re going to be concerned about the reputation of builders for veracity, what their standing is and their business experience,” says Kroll. ”We’ll look at the mortgages’ historical performance and at the originators.”
“…we’d be very interested in testing the data that has been supplied by originating mortgage brokers on a sampling basis, which is not done to date,” says Kroll.
Tags: CMBS, debt, muni bonds, RMBS
