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Inside MBS & ABS

May 11, 2007

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Support for Assignee Liability Falls Along Party Lines as Congress Weighs Legislation

Some Democrats in the House this week clamored for a federal requirement that investors and other assignees take responsibility for problems that develop because subprime mortgages weren’t originated properly. The secondary market has strongly resisted... Read More

MBS Participants Concerned About Impact of Emerging Federal Policy on Subprime ARMs

Federal guidelines on subprime mortgages should be flexible and not deter lenders from developing new products to meet mortgage demand, according to the American Securitization Forum. The ASF was one of few commenters to address the possible impact of a proposed... Read More

Steady Flow of Second Mortgages Helps Sustain Non-Agency MBS Issuance in 1st Quarter 2007

Second mortgages continued to play a modest role in the non-agency MBS market in early 2007, with a total of $21.57 billion of these loans being securitized in the first quarter, according to a new ranking and analysis by... [Includes two charts and one graph] Read More

Investment Bankers Seen as Fair Weather Participants in Mortgage Originations

Wall Street investment banks have acquired a number of mortgage origination businesses over the past year, but some analysts suggest that the firms are likely to abandon their production programs just as quickly. At Information Management Network’s recent Spring ABS... Read More

MBS Ratings Downgrades Hit Records in First Quarter of 2007, Led by Subprime MBS

Weak performance by subprime MBS led to more ratings downgrades than upgrades during the first quarter of 2007, according to a new report by Standard & Poor’s, which warned that the trend is likely to continue. “If recent performance trends continue, and at this... Read More

Default Rates Continued to Rise in February, But Subprime Deterioration has ‘Slowed Significantly’

The credit performance of securitized prime, Alt-A and subprime mortgages kept weakening in February, but subprime deterioration has “slowed significantly,” according to a new report by analysts at Friedman Billings Ramsey. In terms of prime product, FBR found the... Read More

‘Private Label MBS’ Issuance Hits Highest Level In Year, Surging 11 Percent in Early 2007

A total of $157.21 billion of prime jumbo and Alt A MBS were issued during the first quarter of 2007, hitting a high note in an otherwise softening non-agency mortgage market, according to a new ranking and analysis by Inside MBS & ABS... [Includes two charts] Read More

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