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Inside Nonconforming Markets

November 24, 2006

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GSE Share of Subprime MBS Mix Continues Slide Through 3Q 2006

Securitizers of subprime mortgages sold fewer bonds to Fannie Mae and Freddie Mac during the first nine months of this year, a new Inside B&C Lending analysis reveals. The analysis looked at issuance of so-called GSE classes, or... [Includes one chart] Read More

Best Practices Won’t Kill Production at New Century

A new best practices plan likely won’t put too much of a dent in loan volume, officials at New Century Financial say. The California-based mortgage bank launched the updated best practices last month in response to changes in the marketplace and new regulatory... Read More

S&P, Moody’s Neck-in-Neck In Race for MBS Business

Standard & Poor’s and Moody’s Investors Service dominated the subprime MBS rating business during the first nine months of 2006, a new analysis reveals. According to... [Includes 1 chart and 1 graph] Read More

Some Investors Remain Wary Of Subprime Market Changes

Investing in subprime mortgages is tricky business during the best of times. But the matter has been complicated recently by layering of affordability features and low-documentation options. The result is a complex environment that has put a premium on risk management and... Read More

Morgan Stanley Shelf is Tops In Subprime Business for ‘06

Morgan Stanley ran the busiest subprime MBS shelf during the first nine months of 2006. But the importance of so-called dealer shelves in the marketplace appears to have dwindled a bit in the latter part of the year. According to data compiled by... [Includes 2 charts] Read More

Slowing MBS Market Leads To Drop in NIM Issuance

A slowdown in the subprime MBS market has taken its toll on the net interest margin sector, where volume at the end of September lagged last year’s pace. According to data compiled by the Inside Mortgage Finance MBS Database, $8.58 billion in... [Includes one chart] Read More

Some Gain – Most Lose – in Hunt for Subprime Profits

Profit growth proved elusive for subprime lenders in the third quarter as competitive pressures continued to wreak havoc on bottom lines. How difficult is the profit environment right now? Some lenders report that they are having trouble making headway... Read More

Washington Court Allows Class Action in YSP Case

Just when you thought the legal controversy about yield-spread premiums was settled, a Washington court has re-opened the issue by certifying a class action lawsuit against NovaStar Mortgage.At issue in Pierce, et. al. v. Novastar Mortgage... Read More

B&C News Briefs

Fair Isaac is touting a new study that the firm says demonstrates the effectiveness of a scoring model designed for borrowers... Ohio’s Supreme Court has overturned Cleveland’s controversial predatory lending ordinance. By a 5-2 vote, the court ruled that the... Read More

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