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Inside MBS & ABS

June 8, 2007

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Commercial Banks Pulled Back from MBS Market In Early 2007 Despite Small Gain in Agency Pools

Commercial banks scaled back their investment in the mortgage securities market during the first quarter of 2007, according to a new ranking and analysis by Inside MBS & ABS. The Federal Deposit Insurance Corp. this week reported that... [Includes three charts] Read More

ASF Opposed to Assignee Liability, but if Necessary, Group Says to Make it Uniform

While mortgage-backed securities investors oppose assignee liability, the American Securitization Forum said that if such a standard is imposed, it should be applied uniformly across the nation. However, the group warned that such a standard would... Read More

FDIC Pushes for National Subprime Lending Standard Through Expanded HOEPA Rule

The Federal Deposit Insurance Corp. this week implored the Federal Reserve to strengthen its regulatory influence in the subprime mortgage market through its authority under the Home Ownership and Equity Protection Act. Federal banking regulators, including the... Read More

Subprime MBS Servicers Should Consider Investor Interests When Modifying Loans

The American Securitization Forum wants to see more subprime loan modifications – as long as they are in the best interest of investors – and this week released guidelines designed to make subprime servicing practices more uniform. “Any loan modification... Read More

MBA Asserts Subprime Loan Workouts Meet FAS 140 Guidance for Special MBS Trusts

The Mortgage Bankers Association is confident that modifications to securitized subprime mortgages as part of an industry-wide effort to curb rising foreclosures and help troubled subprime borrowers keep their homes are consistent with current accounting standards... Read More

Rating Services Move to Penalize Subprime Mortgage Securities for Poor Data Reporting

The rating services look to be getting antsy with regards to the default and loan modification data they receive from subprime MBS issuers. Moody’s Investors Service and Fitch Ratings recently announced changes that will essentially penalize subprime deals... Read More

Credit Deterioration Stays Mostly in Subprime With Some Spillover Into Alt-A Origination, Fitch Says

The deterioration in mortgage credit performance continues to be concentrated in the subprime sector, with some leakage into the Alt A segment – and origination volumes in both sectors are projected to drop substantially, according to experts at Fitch Ratings. “The... Read More

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