The severe credit squeeze that gripped the non-agency MBS market in July deepened last month, sending new securitization volume to its lowest level in five years. Just $31.07 billion of new non-agency MBS were issued during August... [Includes one graph]
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Freddie Mac and Fannie Mae tower over the banking industry in their holdings of non-agency MBS, with about 18 percent of total securities outstanding in their investment portfolios, according to a new Inside MBS & ABS ranking and analysis... [Includes one chart]
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The Securities and Exchange Commission is examining rating service practices and procedures in the wake of the recent breakdown of the non-agency MBS market. Meanwhile, Democrats in the House have indicated that they are eager to impose regulation on the...
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Ginnie Mae securitizations are expected to see a major boost in coming months as the FHA launches an ambitious program to help subprime ARM borrowers refinance their way out of problems with interest rate resets. The Bush administration says the new...
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GMAC Commercial Finance late last month had to make another big cash infusion into Residential Capital, a top non-agency MBS issuer and primary market mortgage originator, to help the business maintain liquidity. GMAC purchased ResCap’s healthcare finance...
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Despite widespread belief that subprime MBS are performing poorly, the overwhelming majority of these deals are rated AAA, and the rating services have rarely downgraded investment-grade subprime MBS.Standard & Poor’s confirmed this week that it has never downgraded...
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The mortgage securitization rate remained at historically high levels in the second quarter of 2007 even though it was slightly lower than during the first three months of the year, according to a new Inside MBS & ABS analysis. About 75.9... [Includes one chart]
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