Safenet Sentinel Usb Emulate
criticizes the Moody's statement that supports the liquidation of the mortgage to repay York Times rating agency Moody's has ruled on the decision of the Court of Navarre, which guarantees that a home to return involving the liquidation of the mortgage
. And it does to position the side of the banks. Warns that mortgage bond investors fear an increase in defaults and loss of value of these assets by falling property prices.
firm considers risk assessment, however, that the judge's ruling in Navarre is a particular case and not be adopted in other similar situations, and not feel jurisprudecia. He further claims that it is "contrary" to the English regulations on mortgages and that "contradicts many other decisions" on the same subject. Moody's refers to Article 105 of the mortgage law to argue that "return the keys" does not mean the cancellation of the loan, and affects the borrower is personally responsible for any debt left to be paid upon return of the property.
critical agency position the judge, when he argues that it is the banks that over-valued mortgages and bad practices that have led the international financial crisis. Moody's encourages in its statement that "the banks claim against any decision contrary to the law." In conclusion, he warns that it will review its rating on English mortgages "in the unlikely event that this ruling sets a precedent."
Fte: 'El Pais'
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