Volume 2014 - Number 3
January 24, 2014
MBS Market Stuck in Wait-and-See Mode with GSE Reform, Issuance of New Non-Agency MBS
The consensus among speakers at the ABS Vegas conference this week appeared to be that the MBS market is unlikely to change significantly this year. The status quo is comfortable, said Larry White, an economics professor at New York Universitys business school. Issuers of non-agency MBS are working on reducing the government-sponsored enterprises dominance of the secondary market for mortgages, but the chicken-and-egg problem persists. New non-agency issuance has ground to a standstill, and Congress has been slow to move housing-finance reform legislation. In the meantime, industry observers expect...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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