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Inside MBS & ABS

May 30, 2008

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ASF Opposes Changing MBS Rating Scales, Calls For Increased Disclosure from the Rating Services

The American Securitization Forum last week blasted a proposal that the group said could hinder the recovery of the MBS market. The proposal, suggested by regulators as well as the rating services, was meant to increase confidence in MBS ratings, but the... Read More

GSE Retained Portfolios Grew Significantly In April, Freddie Mac Passes Fannie Mae

Fannie Mae and Freddie Mac reported significant gains in their retained mortgage portfolios during April as both government-sponsored enterprises bulked up on new pools produced through their MBS guaranty programs. Freddie added some... [Includes one chart] Read More

Moody’s Allows RFC to Modify Loans Beyond Typical Limit Without Downgrading the MBS

In what could set a precedent for increased loan modifications, Moody’s Investors Service this week allowed subprime MBS issued by Residential Funding Company to be modified beyond the limits of the MBS’ pooling and servicing agreement. While MBS PSAs vary... Read More

Thrifts Step Back From MBS Market in Early 2008; ING Still Largest Investor

Thrift institutions pared back their MBS investments in the first quarter, according to a new analysis and ranking by Inside MBS & ABS.Savings institutions regulated by the Office of Thrift Supervision reported a combined $203.11 billion in... [Includes two charts] Read More

FHLBanks See Agency MBS Purchases Jump 30 Percent As Overall MBS Investments Increase Nearly 10 Percent

While a number of traditional investors in MBS have stepped back from the market in the last few months, the Federal Home Loan Banks continue to feed their growing appetite for the product. FHLBank holdings of MBS issued by Fannie Mae... [Includes one chart] Read More

Bond Insurers Face Faster Disclosure of Credit Risk After FASB Issues New Accounting Standard

Bond insurers are going to have to change the way they account for revenues, claims and disclosures under a new accounting standard issued late last week by the Financial Accounting Standards Board.The new standard, known as FASB Statement No. 163, will... Read More

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