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Inside MBS & ABS

March 2, 2007

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Freddie Mac Move to Tighten Subprime Mortgage Underwriting May Slow Non-Agency Production

Freddie Mac’s plan to tighten underwriting for a significant portion of the subprime mortgage industry will likely have a modest, but noticeable impact on production levels in a non-agency MBS market that’s already reeling from a... [Includes two charts] Read More

Fannie Mae Expects to Increase Its Subprime Business, Cautiously

Fannie Mae told Wall Street analysts this week that it expects to increase its activity in the subprime space, but only to the degree to which it can do so while prudently maintaining its underwriting standards, and only when the risk/reward payoff makes it worthwhile... Read More

Investment Banks May Have Gotten More Than They Bargained for in Subprime Acquisitions

Wall Street’s rush to buy origination and servicing capacity in the subprime mortgage market as a way to bolster their MBS business has landed a number of investment banks smack in the thick of the subprime market’s woes.Merrill Lynch analysts this week reduced their... Read More

Commercial Banks Step up MBS Investment in the Fourth Quarter But Still Lag Market’s Expansion

Commercial banks pumped up their holdings of single-family mortgage securities by 4.1 percent during the fourth quarter, but other investors are doing more of the heavy lifting in funding the expansion of the MBS market... [Includes three charts] Read More

Regulators Scrutinize Safety and Soundness Risk Arising from Sale of Subprime Hybrid ARMs

Federal regulators are taking a closer look at the off-balance-sheet risk facing sellers of subprime hybrid ARMs amid growing regulatory concern over higher delinquency and foreclosure rates nationwide and company failures triggered by loan repurchases. Serena Owens, chief of... Read More

New SIFMA Guide Will Permit Electronic Delivery of GSE Securities Documentation

The Securities Industry and Financial Markets Association is finalizing updated guidelines that will allow electronic delivery of offering materials related to GSE securities. “These changes will update the guidelines and make the delivery process more efficient... Read More

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