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Inside MBS & ABS

August 20, 2010

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Government Guarantee Will Be Essential in Maintaining TBA Liquidity, Industry Says

Perhaps the most important element of housing finance reform, as far as securitization groups are concerned, may be keeping open the flow of liquidity through the marketplace, especially when it comes to the “to be announced” market. And the key to keeping that spigot open will be... Read More

Securitization Rate Remains at Record Level Through Midway Point in 2010

Securitization continued to finance the overwhelming majority of home mortgages through the first six months of the year, according to a new Inside MBS & ABS analysis. A total of $565.9 billion of newly originated home loans were securitized during the first half of 2010, representing... [Includes one data chart] Read More

NY Fed Researchers Suggest Co-op Ownership Could Be the Best Structure for New Securitization Entity

Researchers at the Federal Reserve Bank of New York say it’s important to preserve the best features of Fannie Mae and Freddie Mac – primarily the standardization and efficiency they brought to the MBS market – and that a new cooperative ownership structure may be the best way to do it. In a staff paper released this week, Fed researchers list... Read More

New FHA Short Refi Program Expected To Have Modest Impact on MBS Market

The Obama administration’s latest attempt to help underwater borrowers refinance to a more affordable mortgage may be better designed than earlier efforts, but it’s still likely to have a relatively modest impact on MBS investors, according to a new Barclays Capital analysis. The Department of Housing and Urban Development two weeks ago announced... Read More

Targeted Firms Cooperating in FHFA Inquiry but Still Open to Challenging Agency’s Subpoena Power

Defense attorneys say the Federal Housing Finance Agency’s inquiry into whether private issuers of mortgage securities misled Fannie Mae and Freddie Mac into making bad MBS investments could become a long, drawn-out and expensive process for the agency and the firms involved. So far, attorneys for the financial institutions that received subpoenas from the FHFA last month are... Read More

Securitizers, Investors, Mortgage Bankers Seek Changes to SEC’s Reg AB Disclosure Proposal

Industry groups representing the securitization and investor sectors of the financial services industry seemed to be at odds with mortgage banking interests as the Securities and Exchange Commission works to bring more transparency and disclosure in the MBS and ABS markets. But every group had specific changes they’d like to see made to the SEC’s extensive proposal... Read More

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