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Inside MBS & ABS

September 21, 2007

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Wall Street Faces the Music in Subprime Market Debacle, But Most Firms Are Staying in the Game

Leading investment bankers are taking significant hits to their earnings from the subprime market debacle but most appear to be reshaping their troubled mortgage operations rather than abandoning the business. Bear Stearns this week reported a sharp 62 percent... Read More

Congress May Challenge Bush Administration Decision To Leave Fannie and Freddie Portfolio Caps in Place

The Bush administration’s modest gesture to give Fannie Mae and Freddie Mac more flexibility in managing their investment portfolios will likely have little impact on the struggling non-agency MBS market. But it’s already sparked a... [Includes one chart] Read More

Fed, Treasury Urge Caution in Allowing Fannie, Freddie to Securitize Jumbos

Treasury Secretary Henry Paulson told Congress this week that allowing Fannie Mae and Freddie Mac to securitize jumbo mortgage loans should be at best a temporary step taken only as part of broader legislation to strengthen regulation of the government... Read More

Legal Defenses in Post-Subprime Meltdown May Leave MBS Sellers, Ratings Agencies Vulnerable, Attorney Warns

Whenever there is a meltdown in some segment of the U.S. economy, litigation is sure to follow, and the ongoing subprime crisis is no exception. But with CDO investors now standing to lose as much as $250 billion, thanks to the credit market contagion, there might... Read More

Thrifts Add Mortgage Securities to Retained Portfolios In Second Quarter, Biggest Gains in Non-Agency MBS

Thrift institutions added substantially to their investment portfolios of mortgage securities during the second quarter of this year, with the biggest increases coming in non-agency product. Savings institutions insured... [Includes two charts] Read More

DTCC Urges Industry to Update Securities Processing to Cut Costs

The Depository Trust & Clearing Corp. is undergoing a massive overhaul of its structured securities processing to stem the increasing costs of late principal and interest payments related to human errors. According to a recent study by the company, the... Read More

Mortgage Securities Continue to Grow Faster Than Total Mortgage Market; GSEs Regain Lead

The outstanding volume of single-family mortgage securities grew faster than the rate of increase in all mortgage debt, with Fannie Mae and Freddie Mac leading the charge. A total of $6.259 billion of mortgage securities were outstanding in... [Includes one chart] Read More

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