While subprime mortgage-backed securities issuance fell a modest 4.9 percent in 2006, the widespread upheaval among subprime lenders suggests a much steeper decline this year. About 26 percent of the subprime MBS issued last year came... [Includes three charts and one graph]
Read More
Secondary mortgage market investors may see some kind of assignee liability in forthcoming anti-predatory lending legislation the chairman of the House Financial Services Committee plans to introduce soon. In remarks at a National Community Reinvestment Coalition...
Read More
Regulators and top subprime lenders faced more scrutiny in front of a Senate committee this week and there was plenty of blame to go around for the current problems in the subprime market. The only consensus reached was that mortgage-backed securities investors drove...
Read More
Subprime residential mortgage-backed securities with a 2006 vintage will be a poorly performing group, with losses higher than first projected, according to the latest research by analysts at Fitch. “2006 will prove to be a poor vintage” for subprime residential MBS...
Read More
In what appears to be one of the first such arrangements of its kind, Select Portfolio Servicing Inc. will serve as the “modification oversight agent” in a recently issued Credit Suisse MBS. SPS is a Salt Lake City-based financial services company that...
Read More
Resetting interest rates on ARM loans may cause over a million foreclosures over the next six to seven years, according to a study released this week by First American CoreLogic. The study asserts that 13 percent of the $2.2 trillion of total ARMs originated between...
Read More
US Bank was named indenture trustee for some $304.8 billion of non-agency MBS last year, making it the top player in the business with a 26.6 percent market share. A new analysis and ranking by Inside MBS & ABS reveals that US Bank got most of its... [Includes one chart]
Read More