In valuing secondary market RMBS over the years, R&R discovered many servicer reporting irregularities on collateral losses. At year-end 2011, we decided to generalize our observations on the total market. We presented our findings on January 25, 2012, in “RMBS Losses in Limbo: As Bad...

Since the financial crisis in 2007, residential mortgage-backed securities have been hit with high levels of borrower defaults, realized losses and credit rating downgrades.  Realized losses declared on private residential mortgage-backed securities (RMBS), already much higher than original rating agency and investor estimates, are projected...