When Crafting Deal Agent for Non-Agency MBS, Investors Looked to GSEs’ Oversight, Enforcement and Performance
October 7, 2016
Non-agency MBS investors looked to the practices of the government-sponsored enterprises when establishing the standards for a deal agent, according to Alessandro Pagani, a portfolio manager and head of securitized assets at Loomis Sayles. “The GSEs were very effective in enforcing their rights as owners of the collateral; they had access to information and real enforcement power to put back loans that needed to be put back and direct servicers,” he said at the recent ABS East conference produced by Information Management Network. The Deal Agent Committee released...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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