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Inside MBS & ABS

June 5, 2009

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Legacy Loan Program Delayed as PPIP Loses Steam, TALF Paves the Way for Secondary Market Intervention

Government and banking officials tried to maintain optimism about what was anticipated to be the most impactful federal intervention into the secondary market, the Public-Private Investment Pro-gram, but the initiative still has major problems relating to pricing and risk... Read More

Fannie,Ginnie Set Monthly Issuance Records as May 2009 Hits Fourth-Largest Production Level

Heavy refinance activity and a surge in portfolio securitizations at Fannie Mae pushed monthly issuance of agency MBS to its fourth highest level ever in May 2009, according to a new ranking and analysis by Inside MBS & ABS. A total of $209.64 billion of agency MBS were... Read More

Brokers Accused of Fraud for Allegedly Steering Customers' Retirement Funds into Risky CMOs

Sixteen securities brokers have been charged with fraud for allegedly misleading retirees and other investors into buying highly risky collateralized mortgage obligations and eventually losing mil-lions of dollars when the CMO market tanked in 2007. The accused brokers had... Read More

GSEs Confident Existing Treasury Commitment Will Prove Adequate, OTTI Pounding Notwithstanding

Fannie Mae and Freddie Mac continue to be “critical supervisory concerns,” but recent stress tests of the government-sponsored enterprises suggest the companies likely won’t need more than the $400 billion already committed to by the U.S. Treasury, government... Read More

Industry Group Calls for Mortgage Clearinghouse Half Owned by a Merged Fannie and Freddie

The Consumer Mortgage Coalition, a group that represents large mortgage lenders that dominate the MBS programs at Fannie Mae, Freddie Mac and Ginnie Mae, this week proposed creation of a new mortgage clearinghouse that would become the centerpiece of the mortgage securitization... Read More

Commerical MBS SEctor Faces Stiff Challenges, but Residential May be Making Headway

The commercial mortgage-backed securities market will likely continue to navigate rough waters through the remainder of 2009, while it is too early to tell if loan modification efforts will help the residential MBS sector staunch the bleeding, according to Fitch Ratings. During an... Read More

Systemic Risk Regulator Could End Up Being More of an Advisor than Traditional Agency

Congress and the Obama administration have a variety of ideas to pick from as they grapple with the overhaul of financial industry regulation, including devising some mechanism to protect against the kind of systemic “too big to fail” problems that led to the unraveling of... Read More

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