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Inside Nonconforming Markets

September 17, 2010

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Non-Agency Jumbo Originations Increase, Refis Expected Due to Low Interest Rates

Non-agency jumbo originations increased in the second quarter of 2010 compared with the previous quarter and could continue to rise due to low interest rates. An estimated $18.0 billion in non-agency jumbos were originated in the second quarter of 2010... [includes one chart and one data graph] Read More

Covered Bonds Seen as Non-Agency Option

Legislation awaiting a vote by Congress could prompt greater use of covered bonds, giving investors a way to invest in non-agency mortgages outside of the dormant securitization market ... Read More

Dodd-Frank Act Expected to Constrain Innovation

Industry attorneys warn that the Dodd-Frank Wall Street Reform and Consumer Protection Act will severely limit mortgage industry innovation and eliminate once-prominent nonconforming mortgage products ... Read More

Bank/Thrift First-Lien Portfolios Decline Slightly

The dollar volume of first-liens held in portfolio declined slightly in the second quarter of 2010 compared with the previous quarter, indicating limited portfolio originations ... [includes one data chart] Read More

Non-Agency MBS a Small Portion of GSE Losses

Guarantees on nontraditional and higher-risk mortgages – not large investments in non-agency mortgage-backed securities – accounted for the vast majority of the government-sponsored enterprises’ decline in capital and eventual conservatorship ... Read More

GSEs Offer Unique Programs to Sell REO

Fannie Mae and Freddie Mac have established differing programs in an effort to unload the growing number of real-estate owned properties held by the government-sponsored enterprises ... Read More

Servicers Face Increased Non-Agency Transparency

Impending changes to the non-agency securitization market will increase pressure on servicers, according to senior managers at risk analytics firm Clayton Holdings ... Read More

News Briefs

PennyMac Mortgage Investment Trust this week received ratings on a mortgage-backed security backed by $372.8 million in non-performing mortgages. Only 24.6 percent of the mortgages in the security were current as of August ... [includes one data chart] Read More

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