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Countrywide wrote down $690 million more on the value of residual interests it holds in home equity lines and subprime loans it has made.
NC Residuals Owners Trust held its residual interests in certain of the securitization trusts that it facilitated, which it refers to as the Trusts.
The Corporate and Eliminations segment includes net interest margin and gains or losses relating to mortgage loans for investment, real estate and residual interests in securitizations, along with interest expense on borrowings, other corporate expenses and eliminations of intercompany activities.
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It's tricky, for it's true that Europeans more readily step in where they retain residual interest and influence.
Rangers had the Hibernian goalkeeper Simon Brown to thank for keeping alive their residual interest in the title race.
One source told Reuters: "He ceases to be an active partner, but he continues to have a residual interest.
Common stock, in some countries called ordinary shares, represents a residual interest in the earnings and assets of a corporation.
Mr. Schott said that the I.R.S. was looking at whether sponsors of remics were deliberately underreporting the income they earned from regular and residual interest on securitized mortgages sold through remics.
Sinclair, for his part, went on to become first a global laughing stock with his C5 electric vehicle, then a well-known poker player with a residual interest in personal transportation systems.
UBS Warburg has entered the energy trading business, now known as UBS Warburg Energy, in a deal with Enron that gives Enron a residual interest in the operations but does not require the new company to assume any of Enron's liabilities, the bank said.
As an overview of the company's financial position, the balance sheet consists of three major sections: (1) the assets, which are probable future economic benefits owned or controlled by the entity; (2) the liabilities, which are probable future sacrifices of economic benefits; and (3) the owners' equity, calculated as the residual interest in the assets of an entity after deducting liabilities.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com