NU Online News Service, Oct. 15, 12:32 p.m. EDT
State regulators, possibly within days, will approve the hiring of a firm to reassess the evaluations of 17,600 residential mortgage-backed securities downgraded by the major credit rating firms, an official said.
A request for proposals to evaluate the securities is being prepared by the National Association of Insurance Commissioners, according to Hampton Finer, a New York deputy insurance commissioner. The NAIC is acting on a request by a life insurer trade group.
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