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Inside MBS & ABS

January 19, 2007

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Student Finance Helps Non-Mortgage ABS Issuance Reach Second Best Annual Volume

Overall production of non-mortgage ABS was off last year, but 2006 still ended up as the second best year ever for the market, according to a new analysis by Inside MBS & ABS. A total of $278.48 billion of non-mortgage ABS were issued in 2006, down... [Includes one chart] Read More

Sallie Mae Ends as Top Issuer of Non-Mortgage ABS, Citigroup Paced Underwriting Race in ‘06

Sallie Mae remained the most active issuer of non-mortgage ABS in 2006, a ranking the former government-sponsored enterprise has held since 2003. Sallie Mae issued $31.59 billion in student loan ABS last year, an increase... [Includes three charts] Read More

Some Top Non-Agency MBS Producers Showing Mixed Signals Entering 2007

IndyMac this week warned that its fourth quarter earnings will come in “substantially” below the company’s earlier forecast – sending tremors through an MBS market that has seen a number of the companies falter over the past year. In a letter to shareholders... Read More

GSE Portfolios Would be Cut If Lockhart Runs New Regulator

FHEO Director James Lockhart implied this week he would likely cut the size of the retained portfolios of Fannie Mae and Freddie Mac if he’s put in charge of the new regulator that Congress will try to create for the government-sponsored enterprises this year... Read More

Recent Vintage MBS Makeup New ABX Index, Investors Can Start Trading This Week

A new ABX index, ABX.HE 07-01, based on mortgage-backed security deals underwritten between July 9, 2006, and Jan. 3, 2007, was slated to launch at the end of this week. The ABX indexes were developed just over a year ago by Markit Group, a London-based... Read More

MBS Deals Retain Positive Outlooks and Receive More Upgrades than Downgrades, Except Subprime

Fitch Ratings may have to trim its ratings on an unusually large number of MBS deals this year, but the good news is that the firm expects its upgrades will still outpace downgrades. Credit quality in prime and Alt A MBS has weakened from the “unusually strong” performance... Read More

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