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Inside MBS & ABS

November 23, 2007

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MBS Market Continues Tilting More Toward Fixed-Rate Mortgages as ARM Lending Slows

Fewer adjustable-rate mortgages are making their way into the MBS market as borrowers are increasingly likely to choose fixed-rate loans and portfolio lenders appear to be holding on to ARMs. A total of just $88.37 billion of ARMs were... [Includes three charts] Read More

Freddie Mac Posts Record Loss After Being Forced To Dump Portfolio Holdings, Scale Back Buying

Plummeting market values and rising credit costs pushed Freddie Mac to a record $2.0 billion loss in the third quarter as the government-sponsored enterprise recognized a $3.5 billion reduction in the fair value of its non-agency MBS holdings. And though there were... Read More

Standard & Poors Tops in Non-Agency MBS Ratings While Moody’s Leads in Non-Mortgage ABS Business

Standard & Poor’s continued to rate just about every non-agency MBS deal issued in the public markets, according to a new analysis by Inside MBS & ABS. Meanwhile, Moody’s Investors Service remained the top rating company in the non-mortgage ABS... [Includes two charts] Read More

Regulators Encourage Servicers to Pave Loss Mitigation ‘Express Lane’ Based on Borrower Characteristics

Foreclosures will continue to increase as federal regulators grapple with how to solve the problem, according to Robert Steel, the Treasury Department’s under secretary for domestic finance. This week, Steel said Treasury expects the foreclosure rate to... Read More

House Approves Predatory Lending Bill, Limits States’ Assignee Remedies; Senate Passage Far from Certain

The secondary market received some relief as the House approved anti-predatory lending legislation late last week. The House limited states’ options for actions against securitizers and assignees. The House approved H.R. 3915, the “Mortgage Reform and... Read More

FHLBanks Holding Up Well in Face of Subprime; MBS Holdings Up in 3Q07; Writedowns Limited

In a reversal of activity from the second quarter, the 12 Federal Home Loan Banks boosted their collective holdings of mortgage-backed securities 6.6 percent during the third quarter. During the second quarter, the FHLBanks had scaled back their MBS portfolios a... Read More

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