Cart

Inside MBS & ABS

May 14, 2010

View Archived Issues

Divided FDIC Proposes Securitization Rule With Risk Retention, Disclosure Requirements

The Federal Deposit Insurance Corp. brushed aside objections from MBS issuers and pushed ahead with a tough new proposed rule that would require securitization sponsors to retain a 5 percent interest in the transaction and make extensive initial and ongoing disclosures. The agency made two significant changes to a preliminary draft of the proposal by dropping a... Read More

Industry Worries FDIC Safe Harbor Proposal May Impede Recovery and Leaves Too Much Uncertainty

Most securitization and secondary market representatives are anxious about the latest MBS and ABS safe harbor proposed rule approved by the Federal Deposit Insurance Corp. this week that features mandatory risk retention and extensive new disclosure requirements.Richard Dorfman, managing director and head of the Securities Industry and Financial Markets... Read More

Senate Votes to Limit Risk Retention to Higher-Risk Mortgages, Ban Yield-Spread Premium

The Senate this week approved a modified bipartisan amendment to the regulatory reform bill that would carve out a significant exemption from new risk-retention requirements for non-agency MBS transactions backed by high-grade, low-risk home mortgages. Offered by Sens. Mary Landrieu, D-LA, Kay Hagan, D-NC, and Johnny Isakson, R-GA, the industry... Read More

Credit Rating Services Face New Challenges as Senate Adopts New Scheme for Assigned Ratings

The credit rating services, already facing huge regulatory and legal challenges, may have to cope with a new government-mandated system that would assign the initial ratings for new MBS and ABS. In floor debate on the massive financial services regulatory reform bill, the Senate adopted an amendment crafted by Sen. Al Franken, D-MN, that would... [Includes two charts] Read More

Countrywide Proposes One of Largest Securities Fraud Settlements Ever in Case With NY Pension Funds

A class-action case involving Countrywide Financial Corp. over securities fraud issues could conclude with one of the largest settlements of such a case in history, according to lawyers at Labaton Sucharow LLP, the lead counsel in the case. The plaintiffs, the New York State Common Retirement Fund and five New York City public pension... Read More

Fannie, Freddie Lose Another $18 Billion in 1Q, Portfolios Expected to Swell From Pool Buyouts

Fannie Mae and Freddie Mac lost another $18.2 billion between the two of them in the first quarter of the year, and the red ink is expected to continue to flow for some time as the two companies fulfill their pledges to buy an increasing number of delinquent loans from their MBS pools. Fannie said it would repurchase some $127 billion of loans that were... [Includes one chart] Read More

NY State Common Retirement Fund Adds $500 Million to Fannie MBS Investment Plan

The New York State Common Retirement Fund for state employees, police and fire personnel has committed $500 million more to purchase Fannie Mae securities backed by New York-based mortgage loans. Signed recently, the transaction will bring the Common Retirement Fund’s total investment in mortgages made by New York lenders to state residents... 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