The Wall Street Journal reports that the bond was backed by $746 million in jumbo mortgage loans initiated by MetLife Inc. (NYSE: MET) and others. Fitch had been paid for its rating on the deal. The WSJ noted that Fitch published a report critical of S&P’s and DBRS’s rating.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
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