BASELL III REGULATIONS ARE GENERATE A SELLING FRENZY OF MSRs • CITIGROUP --- SELLING RIGHTS TO OVER $63 BILLION IN LOANS housingwire/articles/27627-citigroup-sells-mortgage-servicing-rights • WELLS FARGO ---LOOKING TO SELL OVER $41 BILLION IN RIGHTS Pursuant to Basel III regulations banks like Citigroup and others will have to put up more capital for MSRs (Mortgage Servicing Rgihts). To avoid such a thing them and many others are dramatically reducing their MSR inventory. Who is bringing forth these Basell III regulations? These Basell III regulations are being brought forth by BIS - Bank for International Settlement. BIS is the bank for the central banks and is the worlds oldest intl financial organization. The headquarters is in Basel, Switzerland. They bring forth the international monetary policy in order to foster global financial cooperation. To learn more see bis.org/about/profile.pdf
Posted on: Thu, 07 Nov 2013 04:27:44 +0000
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