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Inside MBS & ABS

February 23, 2007

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SEC Proposes Rules for Registering NRSROs, Opening Ratings Market to Wider Competition

The Securities and Exchange Commission has proposed rules to ensure the integrity and impartiality of companies that issue credit ratings in the securities market. Published in the Feb. 9 Federal Register, the proposed rules would implement the Credit Rating... Read More

S&P Gains Slightly in MBS Rating Market Share; Moody’s Solidifies Lead in ABS

Standard & Poor’s remained the top rating service in evaluating risk in the non-agency MBS market last year even though it saw slightly more competition in the prime jumbo sector, according to a new ranking and analysis by Inside MBS & ABS... [Includes two charts] Read More

Loan-Level Data Will be Key to CDO Performance in the Future, S&P Finds

While most collateralized debt obligation managers have performed exceptionally well in recent years, Standard & Poor’s warns that troubles in the mortgage market could reveal differences in how well CDO managers perform in the future. S&P said recent CDO performance... Read More

Moody’s Places Five Subprime Servicers On Review for Possible Rating Downgrade

This week, Moody’s Investors Service warned that five subprime servicers are in danger of having their servicer quality ratings downgraded. The servicers in question, Ameriquest, New Century Mortgage, NovaStar, Accredited Home Lenders and Specialized Loan Servicing, all face... Read More

Fannie Likely to Continue to Testing New Risk-Transfer Structures in MBS Market

Fannie Mae is likely to continue exploring new ways of doing business in the rapidly evolving MBS market as a way to increase its involvement and earn more fees, a senior official said. The government-sponsored enterprise last year tested its first sponsorship of... Read More

Jumbo Mortgages Play Smaller Role In Non-agency MBS Market in 2006

Over a third of the mortgages funneled into non-agency MBS last year had loan balances that exceeded the Fannie/Freddie limit, but jumbo loans played a less important role than in 2005. A total of $409.0 billion of jumbo mortgages were securitized... [Includes two charts] Read More

Countrywide Picks up Assets of CCM Futures; Adds Revenue Stream, Expands Capital Markets Capabilities

Countrywide Financial Corp. has reached a definitive agreement to acquire the assets and certain liabilities of CCM Futures, an independent futures broker on the Chicago Board of Trade and the Chicago Mercantile Exchange. “The acquisition of CCMF will strengthen our... Read More

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