Appeal court ruled that ABCP restructuring is legal!

Investors are left out in the cold while the banks and credit union’s receive protection form possible lawsuits regarding the securitization of Asset Backed Commercial Paper or ABCP. The good news is the the plan to restructure the ABCP market can now go ahead. For the complete news story from the source click here other wise this is what this means to you, the mortgage holder or potential mortgage holder. 

Once this is all behind us lenders should be able to securitize their ABCP and as a result offer us the options that we want for our financing needs. This is what I would like to see happen but only time will tell.

Cheers,

Pat