Freddie Mac’s plan to tighten underwriting for a significant portion of the subprime mortgage industry will likely have a modest, but noticeable impact on production levels in a non-agency MBS market that’s already reeling from a... [Includes two charts]
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Fannie Mae told Wall Street analysts this week that it expects to increase its activity in the subprime space, but only to the degree to which it can do so while prudently maintaining its underwriting standards, and only when the risk/reward payoff makes it worthwhile...
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Wall Street’s rush to buy origination and servicing capacity in the subprime mortgage market as a way to bolster their MBS business has landed a number of investment banks smack in the thick of the subprime market’s woes.Merrill Lynch analysts this week reduced their...
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Commercial banks pumped up their holdings of single-family mortgage securities by 4.1 percent during the fourth quarter, but other investors are doing more of the heavy lifting in funding the expansion of the MBS market... [Includes three charts]
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Federal regulators are taking a closer look at the off-balance-sheet risk facing sellers of subprime hybrid ARMs amid growing regulatory concern over higher delinquency and foreclosure rates nationwide and company failures triggered by loan repurchases. Serena Owens, chief of...
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The Securities Industry and Financial Markets Association is finalizing updated guidelines that will allow electronic delivery of offering materials related to GSE securities. “These changes will update the guidelines and make the delivery process more efficient...
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