Rep. Maxine Waters, the ranking minority member of the House Financial Services Committee, believes that now is "precisely the time to think about how we can reshape the secondary mortgage market."
It appears that well known economist Mark Zandi is indeed a candidate to head the Federal Housing Finance Agency. But will the White House actually nominate him?
RAIT Financial Trust, Philadelphia, is funding roughly $60 million to $70 million a quarter in multifamily and low-balance commercial loans, product that is winding up in MBS issued by Barclays Capital and Citigroup Securities. According to Jason Stewart, an analyst with Compass Point Research & Trading LLC, the company also has a line of credit from Credit Suisse, and is working on a $100 million to $150 million deal that could be ready by the third quarter. A publicly traded real estate investment trust, RAIT is...
Credit quality for global structured finance securities fell for the sixth consecutive year in 2012, again led by U.S. residential MBS, according to Standard & Poors. Looking at downgrade and default trends from 1978 through 2012, S&P found that downgrades were less pervasive last year than in previous years. Nonetheless, the mild but slow global economic recovery continues to hurt the performance of MBS and other structured finance securities for the sixth straight year. Its lagging effect means that credit quality may continue to see moderate deterioration, the rating agency said. While poor credit quality appears...