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Inside MBS & ABS

April 8, 2011

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MBS Issuance Dropped Sharply in Early 2011, Modest Gain in Non-Mortgage ABS Production

New issuance of single-family MBS slowed significantly during the first quarter of 2011 as the refinance boom that fueled a strong finish in 2010 lost momentum. A total of $359.78 billion of single-family MBS were issued during the first three months of this year, according to... [Includes two data charts] Read More

Agency MBS REITs Raise Cash, Build Momentum, Expected to Best Non-Agency in Improving Market

The economic climate continues to improve for real estate investment trusts that specialize in agency MBS, allowing them to attract a substantial amount of new capital in a market with good strategic acquisition opportunities, according to a consensus of industry analysts and representatives. “We expect... Read More

Uncertainty Haunts MERS as ‘Patchwork’ of Rulings Has Negative Implications for MBS

Regardless of the final outcome of the numerous legal disputes swarming around the Mortgage Electronic Registration Systems electronic registry of mortgage rights, market watchers fear the ongoing litigation – as well as challenges on other fronts to the company – threaten to result in... Read More

Mortgage Credit Availability Could Suffer if GSE Regulator Botches Reform Implementation, IG Says

The ability of residential mortgage borrowers to access necessary financing could inadvertently be compromised if the Federal Housing Finance Agency, the regulator for Fannie Mae and Freddie Mac, mishandles the implementation of housing finance reforms proposed by the Obama administration, the FHFA Office of Inspector General said... Read More

Senate Panel Approves Bill Giving Bankruptcy Courts More Clout in Loss Mitigation Efforts

The Senate Judiciary Committee last week approved legislation that would give bankruptcy courts the ability to offer mediation programs to help distressed mortgage borrowers and servicers agree on loss mitigation alternatives to foreclosure. In a 10-8 vote, the panel approved... Read More

U.S. Bankruptcy Court Denies Investor Standing, Says Only Trustee or Servicer May Speak for Trusts

Opting for judicial efficiency over potential chaos in the courtroom, a federal judge ruled that a major investor in two commercial MBS trusts has no standing to argue in a bankruptcy case. The decision by Judge Shelley Chapman of the U.S. Bankruptcy Court for the Southern District of New York affirms... Read More

Many in the Industry Still Clamoring for U.S. Covered Bonds Market, But When Will Legislation Hit Congress Again?

Legislation pending in the House of Representatives could lead to a meaningful covered bond market in the U.S., according to a new industry report, but the political outlook remains iffy. A recent article published by K&L Gates says some believe it’s possible a bill could come to the House floor sometime this... Read More

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