Resecuritizations Emerge as a Major Component of Non-Agency MBS Market, But Some Deals Wobbling
June 20, 2008
Nearly a quarter of the feeble supply of new non-agency MBS issued in 2008 were resecuritizations of older deals, but a number of these transactions are already being looked at for possible downgrade as underlying collateral performance continues to deteriorate. A total of $8.92 billion of re-securitizations were issued during the first five months of 2008, up 182 percent from the... [Includes one graph]