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Inside MBS & ABS

October 26, 2007

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Home-Equity Securitization Sinks to Lowest Level in Six Years; Countrywide Faltering

A meager $28.93 billion of home-equity securities were issued during the third quarter of 2007, although production showed a little upward momentum at the end of the period. HEL securitization volume fell a whopping 69 percent as... [Includes two charts and one graph] Read More

Frank’s Anti-Predatory Lending Bill Could Devastate MBS Market, Wall Street Warns

Wall Street has raised a number of concerns regarding legislation introduced this week by House Financial Services Committee Chairman Barney Frank, D-MA, which secondary market participants say could reduce secondary market support for mortgages and deprive... Read More

ASF to Issue Investor Reporting Standards, Model P&SA Provisions for Loan Mods, Loss Mitigation

The American Securitization Forum plans to issue investor reporting standards and model pooling and servicing agreement provisions relating to loan modification and loss mitigation activities undertaken in connection with residential MBS. “Those are both... Read More

Mutual Funds, ‘Other’ Investors Show Increased Appetite for Mortgage Securities as of Mid 2007

Although some buyers had already begun to step back from the mortgage securities market by the middle of this year, other institutions continued to show strong appetites for MBS, according to a new Inside MBS & ABS analysis... [Includes one chart] Read More

Securities Arbitration Preferable to Litigation, Industry Group Argues in New White Paper

Securities arbitration is fair, faster and less expensive than litigation, according to a new Securities Industry and Financial Markets Association white paper designed to rebut a growing legislative threat to ban arbitration in many contracts. “For... Read More

Council Tells Fed that Investors Would Benefit From a Ban on Subprime Prepayment Penalties

As the Federal Reserve works to increase regulation of the subprime market, consumer advocates are pushing for changes they suggest will benefit MBS investors. At a meeting of the Fed’s Consumer Advisory Council this week in Washington, DC, members of... Read More

Ginnie Mae Clarifies Rules for Securitizing New FHASecure Refinance Mortgages

Last week, Ginnie Mae announced it will keep FHASecure mortgages separate from other FHA loans in its securities. However, investors and lenders are concerned that some mortgages with FHASecure-characteristics will be included in regular Ginnie pools. During... Read More

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