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Inside MBS & ABS

September 24, 2010

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Securitization Industry Braces for More Liability, Uncertainty, Unintended Effects of Dodd-Frank Act

Leaders in the securitization industry are trying to get their heads around all of the potentially duplicative and conflicting compliance requirements stemming from recent regulatory and legislative developments coming out of Washington, DC, including the recent enactment of... Read More

MBS Market Continued Shrinking During First Half of 2010; GSE Buyouts Hit Agency Sector

The supply of residential mortgage securities in the market continued to decline during the second quarter of 2010 despite robust issuance in the dominant agency MBS market, according to a new analysis by Inside MBS & ABS. There was a total of $6.702 trillion of MBS outstanding as of the end of June, a decline of... [Includes one data chart] Read More

SEC Had Its Hands Full Trying to Implement New Rating Agency Oversight, More Changes Ahead

The Securities and Exchange Commission had a difficult time summoning staff resources to manage its increased responsibilities under the 2006 Credit Rating Agency Reform Act and now faces a range of new mandates under the Dodd-Frank Wall Street Reform and Consumer Protection Act. According to a new report issued by the Government Accountability Office... Read More

TMPG Issues Best Practices Guidance to Maintain Integrity, Efficiency of Over-the-Counter Markets

The Treasury Market Practices Group has recommended new best practices for trading and settlement to maintain vigorous competition, liquidity and integrity in the Treasury, agency debt and agency MBS markets. The best practices recommendations are also aimed at reducing market disruptions, including... Read More

Fannie, Freddie Mortgage Guarantees Could Cost $53 Billion on a Fair Value Basis, CBO Estimates

Fannie Mae and Freddie Mac are expected to guarantee about $10 trillion in new mortgages over the next decade, and the cost of the federal government’s subsidy to the pair under conservatorship to help facilitate it will come to approximately $53 billion, according to the most conservative, fair value-based estimate from the Congressional Budget Office. But under a different calculation... Read More

Chances of Recovering Losses from Non-Agency MBS Through Legal Action Deemed Remote

Investors in distressed non-agency MBS issued by Countrywide Financial and other companies may be out of luck, according to industry observers. Analysts at RBS Securities concluded that investors in Countrywide MBS face “insurmountable” difficulties regaining their money from the company. For starters... Read More

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