Cart

Inside MBS & ABS

March 29, 2013

View Archived Issues

Chase’s Non-Agency Jumbo MBS Would Not Have Received a AAA Rating from Moody’s

Moody’s Investors Service issued a “special comment” this week to warn that the new non-agency jumbo MBS issued by JPMorgan Chase would not have received a AAA rating from Moody’s, had the firm been asked to rate the deal. The rating service raised concerns about representations and warranties and a lack of risk retention on the deal. Read More

Commercial Mortgage Securitization Rebounded Firmly in 2012 With Surge in Agency Activity

The securitization of commercial real estate property increased by 28.7 percent from 2011 to 2012 as the non-agency commercial MBS market posted its best year since the financial market collapse and agency securitization of multifamily mortgages hit a record high. (Includes one data chart) Read More

Amherst: New Freddie Performance Data Suggest Extensive Cross-Subsidy in G Fees

New loan-level performance data released this month by Freddie Mac indicate that the impact of risk layering may be more significant than observers previously thought, according to analysts at Amherst Securities Group. Read More

SCOTUS Denies Goldman’s Plea to Overturn Reinstatement of Plaintiff’s MBS Class Action

The U.S. Supreme Court has denied a petition to review a federal appeals court decision to reinstate a securities class action lawsuit filed by MBS investors against Goldman Sachs. In denying the petition, the SCOTUS let stand a ruling by the U.S. Court of Appeals for the Second Circuit to overturn a lower court’s decision to dismiss the plaintiff’s suit for lack of standing and for failure to show injury. Read More

ABS Investors Warn Proposals to Discharge Private Student Loans in Bankruptcy Would Increase Costs

Investors in ABS backed by private student loans strongly oppose proposals in Congress to change bankruptcy laws in an effort to help such borrowers. In a letter this week to members of Congress, the American Securitization Forum said the proposals would increase the cost of private student loans and harm the investments of those holding private student loan ABS. Read More

With Buyback Work Easing Up, Due Diligence Vendors See Hope in the Jumbo MBS Space

It hasn’t been an easy time for due diligence firms that make their living off the mortgage business, at least not this year. Firms like Allonhill LLC, which bulked up on staff to handle the rush of work on investor buyback demands, have been cutting back in recent months as those contracts run their natural course. Read More

Moody’s Proposes Ready-Made GSE Reform Via CDS, PMI to Reduce Fannie, Freddie Credit Risk

The key to advancing tomorrow’s big picture housing finance reform should begin today through a series of smaller steps starting with targeted, nearly ready-to-go reductions to Fannie Mae’s and Freddie Mac’s credit risk, according to a proposal by Moody’s Analytics. Read More

Sunnier Market Environment, New Opportunities Inspire MBS Investing REITs to Tap Wall Street

Improving market conditions and strengthening appetites on Wall Street have encouraged a pair of MBS-buying real estate investment trusts to hit up the equity markets, including an initial public offering from relative newcomer First Oaks, which touts a hybrid investment model. 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