New production of jumbo and Alt A MBS pushed to its third highest quarter ever during the second quarter of 2007, but the market now appears poised for a sharp downturn in volume rather than further growth. A total of $161.48... [Includes two charts and one graph]
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New production of Alt A MBS climbed 4.2 percent in the second quarter of 2007, marking the third consecutive period of growth for the market. Quarterly Alt A issuance topped the $100 billion mark for just the third time ever... [Includes two charts]
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Fannie Mae announced late last week that recent servicing guideline clarifications might cause increased prepayments for some of its mortgage-backed securities. The catalyst for these changes was Announcement 07-03, in which Fannie introduced its new...
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Analysts believe most financial institutions are strong enough to withstand the crash of the subprime mortgage market, but many firms have some exposure to the problem. Most large commercial banks appear to be in position to weather the storm, analysts say. In a...
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Fitch Ratings this week tightened its rating criteria for subprime MBS, echoing similar moves by its competitors, while Standard & Poor’s updated its criteria for Alt A deals and put a number of transactions on ratings watch. Among other changes, Fitch...
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A newly formed joint venture of community banks under America’s Community Bankers has signed its first two agreements to sell mortgage loans to secondary market units of Wells Fargo and Countrywide Financial. ACB Mortgage announced both one-year...
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