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Inside Nonconforming Markets

July 13, 2007

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Subprime MBS Issuance Drops Significantly in Second Quarter

Issuance of securities backed by subprime mortgages fell dramatically in the second quarter of 2007, as subprime MBS downgrades begin to pile up and some issuers ceased operations. Subprime MBS issuance fell a whopping 39.6... [Includes two charts] Read More

S&P Wary of Subprime MBS and Originators

Subprime mortgages originated in 2006 continue to rack up unprecedented delinquencies, defaults and foreclosures. In response, this week Standard & Poor’s downgraded 562 classes of securities backed by subprime mortgages and Moody’s Investors Service... Read More

Dodd Calls for Increased Subprime Regulation

Recently finalized federal guidance on subprime lending does not go far enough, according to Sen. Chris Dodd, D-CT, chairman of the Senate Committee on Banking, Housing and Urban Affairs, who reiterated his call for the Federal Reserve to crack down on... Read More

Subprime Lenders Continue to Falter

Wells Fargo closed its subprime correspondent division last week, just one of the many signs that subprime lenders are a long way from recovery. In 2006, correspondent originations accounted for 9.0 percent of the lender’s subprime volume, according to the... Read More

Subprime Problems Predicted To Persist Through 2008

A subprime recovery is not expected anytime soon, as analysts predict continued decreases in originations through 2008, as well as more downgrades of securities backed by subprime mortgages. During a recent audio conference on the non-conforming loan market hosted... Read More

Regulators Okay with Hedge Funds’ Subprime Exposure

Federal Reserve and Treasury officials this week said that while recent problems involving hedge fund investment in subprime mortgage-backed securities are troubling, the regulators are not overly concerned. At a hearing on hedge funds before the House... Read More

S&P Leads Subprime Ratings, Covering Nearly All Issuance

Standard & Poor’s rated 98.0 percent of the dollar volume of subprime mortgage-backed securities issued in the first quarter of this year, according to affiliated publication Inside MBS & ABS. That was up from 97.6 percent... [Includes two charts and one graph] Read More

Subprime Lending to First-Time Homebuyers Up in ’06

The share of first-time homebuyers receiving subprime loans increased in the second half of 2006 compared with the previous six-month period, according to the Mortgage Bankers Association. In a survey released at the halfway... Read More

B&C News Briefs

The Department of Housing and Urban Development’s... Fremont General this week reached a tentative... The National Association for the Advancement of Colored People... Borrowers eligible for a settlement with Ameriquest... Credit-Based Asset Servicing and Securitization... Read More