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Inside MBS & ABS

March 7, 2008

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Commercial Bank MBS Holdings Climb in Late 2007 as Several Top Players Buy Aggressively

A handful of top bank holding companies aggressively boosted their holdings of mortgage securities during the fourth quarter of 2007, including a strong commitment to the non-agency sector, according to a new Inside MBS & ABS analysis of call... [Includes three charts] Read More

Non-Agency Issuance Tests New Low in February While Agency MBS Production Holds Steady

The non-agency MBS market has turned into a thrift store in 2008, as most of the new issues are recycled securities and new issuance continues to dwindle. A total of just $8.04... [Includes one chart] Read More

UBS Reportedly Unloads the Vast Majority of Its Alt A MBS Holdings in a ‘Fire Sale,’ Causing Trouble for Others

UBS sold $24.1 billion of its Alt A MBS holdings in a “fire sale” this week, according to speculation by JPMorgan analyst Kian Abouhossein. The possible sale followed UBS’ Valentine’s Day revelation of its $26.6 billion exposure to Alt A... Read More

Affordable Housing Emerges as Key Obstacle To Moving Comprehensive GSE Reform Bill

If Congress again fails to enact legislation to overhaul the regulation of the housing government-sponsored enterprises, controversial affordable housing provisions may prove to be the cause of death. As the Senate Banking, Housing and... Read More

Higher Agency Loan Limits Announced, But MBS Implementation is Still Fuzzy

The Bush administration this week released revised maximum loan limits for Fannie Mae, Freddie Mac and the FHA that cover some 71 metropolitan statistical areas across the country. Implementation of the new loan limits, which run as high as $729,750 for... Read More

FDIC Considering Setting Standards for Covered Bonds as Non-agency MBS Issuance Falters

Covered bonds, a popular alternative to securitization in Europe that has seen limited use in the U.S., could grow in popularity if the Federal Deposit Insurance Corp. clarifies some regulatory issues surrounding the financing tool. FDIC Chairman Sheila Bair suggested... Read More

Leveraged Financial Institutions to Endure $200 Billion In Losses Due to MBS Exposure, Economists Claim

In what might be characterized as an exercise in financial post-mortem analysis, a panel of top U.S. economists has concluded the mortgage meltdown will cause losses of about $400 billion – half of which is likely to be absorbed by leveraged U.S. financial... Read More

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