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Volume 2011 - Number 30

July 29, 2011

Downloads Available: Non-Mortgage ABS Issuance by Asset Type - 2Q11

Downloads Available: Top Non-Mortgage ABS Issuers in 2011/ Top Non-Mortgage ABS Underwriters in 2011 - 2Q11


Non-Mortgage ABS Production Up Sharply in Second Quarter, Running Ahead of 2010 Pace

Significant increases in all major collateral categories pushed non-mortgage ABS issuance up 44.3 percent from the first to the second quarter of 2011, according to a new Inside MBS & ABS ranking and analysis. ABS production revved up to $43.2 billion in the second quarter, the highest level since the third quarter of 2009. That brought year-to-date issuance to $73.2 billion, some 28.2 percent ahead of the pace during the first six months of 2010. Deals backed by loans to purchase or lease cars and other vehicles continued to account for the biggest slice of the market. Vehicle ABS issuance rose ... [contains two data charts]

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

Are current mortgage underwriting standards too tough?

Yes, they don’t reflect current market conditions and need to be adjusted to allow borrowers with below 700 FICO scores and smaller downpayments to qualify for mortgages.
Yes, and something needs to be done to significantly reduce repurchase or buyback risk so that lenders don’t apply even tougher underwriting overlays.
No, the standards are appropriate given current risks and the major default problems the mortgage market has experienced over the past several years.

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