Cart

Inside MBS & ABS

May 1, 2009

View Archived Issues

More Discretion Given to Federal Regulators in Setting Risk-Retention, Safe Harbor Expanded

After much debate, the House Financial Services Committee this week passed mortgage reform legislation that provides more leeway to federal regulators to determine the amount of risk a creditor should retain on a non-qualified loan sold for securitization and whether securitizers should be subject to the same requirement. The committee voted 49 to 21 to pass H.R. 1728, the Mortgage Reform... Read More

Another, Separate Deluge of Delinquency-Driven Prepays Loom on the Horizon, Barclays Projects

While many MBS investors may be preoccupied by the prepayments associated with federal government housing rescue efforts and low mortgage rates, another distinct wave of prepayments is gathering strength, driven by increasing delinquencies showing up at the government-sponsored enterprises, according to some fresh research from Barclays Capital. “Delinquencies in Fannie Mae/Freddie Mac... Read More

ABS Issuance Up Modestly in Early 2009, But Government Programs Sputtering

New issuance of non-mortgage ABS rose 9 percent in the first quarter of this year, but the market failed to generate the kind of rebound that many observers had hoped would come from the government’s various stimulus initiatives. A total of $20.29 billion of ABS were issued during the first three months of the year – less than half the volume issued during the same period... [Includes two charts] Read More

Rehab Your Portfolio by Making the Most of the Options Available While They Exist, Investors Told

MBS investors need to overcome the “tranche warfare” holders of different classes within the same transaction and cooperate to take advantage of the opportunities and mechanisms that currently exist to rehabilitate their portfolios while they still can, experts say. “Every one of us needs to do what we can with what has been given to us, basically on a silver platter, through the... Read More

FICC’s New MBS Central Counterparty Service Scheduled to Go Online August 17

The Fixed Income Clearing Corp. plans to launch its new central MBS counterparty service in mid-August, which officials hope will bring guaranteed settlement and heightened risk management to the trading of MBS. “We will go live on Aug. 17, subject to two conditions,” said Murray Pozmanter, managing director in the clearance and settlement group of the Depository Trust and Clearing Corp., the... Read More

ASF to Complete MBS Disclosure Package Soon, Reporting Standard Still Evolving

The American Securitization Forum expects to finalize its controversial residential MBS disclosure standard within the next month, officials said during a meeting this week. The proposed MBS disclosure standard is part of the ASF’s Project ReSTART initiative designed to help get the non-agency MBS market rolling again on better footing. Tom Deutsch, the deputy executive director of... Read More

Senate Rejects Durbin Cramdown Measure, Bill Still Includes Servicer Safe Harbor

The mortgage industry won a big victory this week when the full Senate voted down legislation that would have allowed bankruptcy courts to cram down secured loan amounts and make other modifications to single-family mortgages. The proposal was considered as an amendment by Sen. Dick Durbin, D-IL, to S. 896, the Helping Families Save Their Homes Act. The Senate plans to... Read More

CMC Proposes Overhaul of Securitization Structure, Creation of ‘Gateway’ for Securitized Loan Products

Congress should reexamine the failures of the current mortgage finance system and, rather than the measures set forth in mortgage reform legislation, consider an overhaul of the mortgage securitization structure that begins with the merger of Fannie Mae and Freddie Mac, according to the Consumer Mortgage Coalition. In a letter to House Financial Services Committee Chairman Barney... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results