After all, didn’t America suffer a housing “depression” because credit was too loose? Some GOP conservatives in Congress live by the edict: those who can own; those who can’t rent…
Waiting several years to unify Fannie Mae and Freddie Mac securities into a single MBS could pose a huge risk to its successful completion, warned the mortgage banking industry, but Wall Street thinks it’s worth the wait to get market participants totally behind the move. The Federal Housing Finance Agency’s proposed single security for the government-sponsored enterprises met with conflicting views as the comment period ended this week. The proposal is aimed at eliminating Freddie’s pricing disadvantage and improving liquidity in the to-be-announced market. The Securities Industry and Financial Markets Association urged...
New issuance of non-mortgage ABS faltered again in the third quarter of 2014, slipping 5.4 percent from the second quarter, according to a new Inside MBS & ABS ranking and analysis. Issuers produced $46.48 billion of new ABS during the third quarter. While that marked the second straight quarterly decline after the robust $53.44 billion issued in early 2014, current issuance levels remained relatively high for the post-crisis period. Through the first nine months of 2014, new ABS issuance totaled...[Includes three data charts]