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Inside MBS & ABS

February 2, 2007

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Securitization Market Waits to See How Far Down Housing Will Go, Impact on How Business is Done

The securitization market, which last year turned a potentially scary downturn in the key subprime mortgage business into a burgeoning new derivatives trading business, wheeled into 2007 with expectations of increased stability and new opportunities.With... Read More

Most Experts Say Downturn in Mortgage Credit Cycle Won’t be Too Severe in 2007

The long-anticipated slowdown in housing markets finally arrived in 2006, but industry experts say the impact on mortgage lending and securitization will be fairly mild. There are some signs that housing may be in the early stages of recovery, said Calvin Schnure... Read More

Fannie Plans to Expand Securitizable Mortgages, Price More Competitively With Market, Mudd Says

Fannie Mae hopes to build on last year’s business momentum by securitizing more types of mortgages, while pricing more competitively, according to Fannie President and CEO Dan Mudd. Speaking at a Citigroup financial services conference in New York City this week, Mudd said... Read More

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

Countrywide was named sponsor on more non-agency MBS in 2006 than any other company in the market, according to a new ranking based on the Inside Mortgage Finance MBS Database. The California-based mortgage company sponsored some $106.5 billion... [Includes two charts] Read More

Rating Services Grapple with MBS Collateral Definitions and Performance

Under pressure to explain why recent subprime MBS are performing worse than earlier vintages, the rating services acknowledge that they have to cope with a measure of deception from some issuers. At the American Securitization Forum’s ASF 2007 conference... Read More

Growing Investor, Issuer Due Diligence Anticipated as Repurchases Out of Securitized Loans Pools Increase

Investors and issuers of residential MBS will be getting more active this year in monitoring securities backed by subprime mortgages, as well as subprime loan purchases, for any potential problems arising from poor underwriting, according to subprime market players... Read More

Commercial MBS Issuance Hits Yearly, Quarterly Records at the End of 2006

Issuance of commercial mortgage-backed securities soared to record highs to close out the fourth quarter of 2006, besting previous yearly and quarterly marks. CMBS issuance hit $225.69 billion in 2006, 27 percent above 2005’s previous record... [Includes two charts] Read More

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