Breaking LIBOR was Easy. Fixing it May be Hard.
This post is the first in a series of posts on the particularly complex issue of LIBOR transition on asset-backed securities, such as residential mortgage-backed securities, which face the additional complication of there being two levels of transition: LIBOR-indexed mortgage notes that are assets of the securitization trust and LIBOR-indexed interest rates paid on the securities issued the securitization trust. Continue reading Breaking LIBOR was Easy. Fixing it May be Hard.