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Inside MBS & ABS

October 27, 2006

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HEL Securitization Slumped in Third Quarter, Primary Market Powerhouses Top Issuer Ranks

It’s not hard to see why Wall Street investment bankers have been aggressively buying subprime mortgage bankers in a market where new loan production appears to be waning. Seven of the top eight issuers of home-equity loan securitizations in... [Includes 2 graphs and 2 charts] Read More

MBS Market Dodges Bullet as Accounting Body Exempts Pass-Through MBS, CMOs from Controversial New Rule

The mortgage and MBS industries are stoked that the Financial Accounting Standards Board decided this week to exempt some mortgage securities from the provisions of a new accounting standard that would have required investors to recognize value changes in their earnings. “We think FASB’s decision is... Read More

MBS Investors Fear Too Much Capital Chasing Too Little Product, Liquidity ‘Event’ Possible

Some participants in the MBS market are becoming increasingly concerned about the escalating amount of capital chasing too little product and how the potential for a “liquidity event,” such as a retreat by foreign investors, that could rattle mortgage capital markets... Read More

New Excess Servicing Program Ready to Go, Whenever Market Is, Ginnie Says

A new securitization program for excess servicing strips is ready to go, Ginnie Mae officials say. But the market demand for the program has been soft – at best. “If someone comes to us wanting to do a strip, we are ready to go,” said Robert Couch, president of Ginnie Mae... Read More

Assessing Third Parties Continues to be A Regulation AB Compliance Concern

The mortgage finance industry continues to have its hands full complying with Reg AB, including the hot issue of assessing third parties. There have been some concerns expressed in the industry recently regarding the assessment of third parties that are involved in... Read More

Trustees Look to Clayton Holdings to Ensure MBS Pools Perform Perfectly

Servicers make mistakes and that is good for business at Clayton Holdings. The firm, formed in 2005 when TA Associates combined the operations of Clayton Fixed Income Services and Clayton Services under a single holding company, specializes in due diligence and... Read More

Countrywide Ranks as Top Non-Agency MBS Sponsor in 2006, Lehman Leads in Shelf Activity

Countrywide Financial was the top sponsor of non-agency MBS issued in the first nine months of 2006, according to the Inside Mortgage Finance MBS Database, which covers some $871.78 billion of public placement transactions. Countrywide’s $106.51 billion of sponsored deals... [Includes 2 charts] Read More

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