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Inside MBS & ABS

May 6, 2011

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It’s Too Early for Non-Agency Investors to Price In Potential Repurchase Benefits, Analysts Say

A handful of high-profile developments on the representations and warranties front over the last few months is prompting non-agency investors to contemplate whether they should start pricing in the benefits associated from repurchases. A few weeks ago, Bank of America and mortgage insurer Assured Guaranty reached a... Read More

NY Fed Advisory Group Pushes for More Costly Repercussions on Agency MBS Fails

The Treasury Market Practices Group wants to improve efficiency in the agency MBS market by imposing charges for failure to complete transactions. “The TMPG is proposing fails charges in the agency debt and agency MBS markets in order to reduce the incidence of delivery failures in the market,” said Tom Wipf, chair of... Read More

Deutsche Bank was Not Prepared for Financial Crisis And Contributed to Public Nuisance, L.A. Charges

The city of Los Angeles on Wednesday filed a civil lawsuit against Deutsche Bank and its subsidiaries for failing to maintain the properties of loans that were pooled in non-agency MBS for which the company served as trustee. City Attorney Carmen Trutanich filed the over 200-page complaint, which accused the bank of... Read More

Bipartisan Approval Pushes Covered Bond Legislation Out Of Subcommittee; Dems Want FDIC’s Concerns Addressed

A bill that would create a legislative framework for a covered bond market in the U.S. cleared a House subcommittee with bipartisan support this week following some fine tuning by its sponsors to address concerns raised by critics and regulators. The House Financial Services Subcommittee on Capital Markets and... Read More

House GOP Pushes to Restore Credit Rating Agency Exemption from Securities Act Expert Liability

Securitization markets would gain more certainty regarding securities issuance going forward under legislation passed out of a House subcommittee this week that would restore to credit rating agencies their previous exemption from expert liability under the Securities Act of 1933. The exemption was removed with... Read More

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