New production of residential mortgage-backed securities nudged slightly higher in the second quarter of 2007 despite widespread signs of a weakening housing market. A preliminary estimate shows $541.70 billion of MBS was issued during... [Includes two charts]
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Underwriting for many of the mortgages that collateralize MBS is expected to tighten further with last week’s issuance of federal interagency guidance on subprime lending, on top of increased regulatory pressure on lenders to comply with last year’s...
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The mortgage-securities market has not yet experienced the full impact of the shakeout in the subprime sector and mounting pressure on the Alternative A business, experts say. The “unwinding of the incredible boom continues,” said Tom Zimmerman, managing director...
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National public policymakers are wrong to push lenders too hard to modify loans for subprime borrowers who have defaulted, according to a recent Nomura fixed income research report. “Loan modifications for defaulted subprime mortgage loans have become a hot topic over...
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A total of $72.17 billion of agency-backed real estate mortgage investment conduit deals were issued during the second quarter of 2007, representing a sharp 24.0 percent jump from the previous period, according to a new Inside MBS... [Includes one chart]
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Commercial banks are not a major investor group in the non-mortgage ABS market, and they’re not getting much bigger. Commercial banks held $89.31 billion of ABS in portfolio at the end of the first quarter of 2007, and the biggest... [Includes one chart]
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