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Inside MBS & ABS

February 22, 2008

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Keeping ‘Agency Jumbo’ Loans Out of TBA MBS Trades May Blunt Impact of Loan Limit Increase

A decision announced late last week to exclude agency MBS backed by jumbo mortgages from the efficient to-be-announced market may push interest rates higher on these loans and curtail some of the liquidity the government is trying to pump into the secondary... Read More

Bond Insurers Try to Regroup as Mortgage-Induced Tailspin Accelerates; Congress Eyes Numerous Regulatory Reforms

Bond insurers continue trying to regain their footing as the structured finance business keeps crumbling beneath them. MBIA Inc., the world’s largest bond insurer, has been forced to consider splitting into two units, one for its... [Includes one graph] Read More

Mortgage Meltdown Collateral Damage Spreads As Credit Suisse, UBS Face $21 Billion in Losses

The financial industry’s hemorrhaging from its mortgage wounds continued at an astounding pace over the last week, as Credit Suisse and UBS announced they might have to take a combined $21.15 billion in writedowns. Credit Suisse said this week it will to... Read More

Standard & Poor’s Holds Its Ground as Top MBS Rating Service, Moody’s Still Leads ABS Market

Standard & Poor’s maintained its position as the top rating service in the non-agency MBS market, providing coverage on 93.6 percent of new rated issuance in 2007, according to a new market analysis and ranking by Inside MBS & ABS. S&P’s share of... [Includes two charts] Read More

Standard & Poor’s Sees More Uncertainty In the Market, Little Hope for 2008 Rebound

The severe liquidity problems that gripped the subprime MBS market in the middle of 2007 worsened as the year wore on, and there is little prospect for significant improvement this year, according to Standard & Poor’s. New primary market production of subprime... Read More

Deutsche Bank Won More 2007 MBS Trustee Business; Bank of New York Led in ABS

Deutsche Bank was named as trustee for some $135.99 billion of new non-agency MBS issued in 2007, finishing the year with a 20.9 percent share of the market. Deutsche was tops in both the subprime and Alt A sectors, the two parts of the... [Includes two charts] Read More

Many Lenders Think They Can Boost Mortgage Origination Volume in 2008, Conduits Stay Strong

An annual survey of community banks revealed an unexpectedly optimistic outlook for the mortgage market this year, although most of the respondents had little exposure to the subprime market at the time the sector was beginning to crumble. Some 39 percent of... Read More

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