Representatives from leading rating services were called on the carpet during two Capitol Hill hearings this week, where skeptical lawmakers wanted to know why the companies didn’t detect problems in the subprime market sooner. Congressional leaders from both...
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Loan purchasers and securitizers could be where the buck stops when it comes to liability for abusive mortgage lending practices under an anti-predatory lending bill that will soon be introduced in the House Financial Services Committee, according to one of the bill’s...
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Issuance of subprime mortgage-backed securities has slowed to a trickle in the last few months, but investors that favor the assets are making changes that will affect the market when it recovers. “The securitization model is dead,” said Richard Benson, president...
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Not surprisingly, investment grade subprime MBS are a good value right now, according to investors, but most buyers are nevertheless seeing greater returns at the bottom of the capital structure and avoiding mid-tier rated subprime MBS. Most investors at...
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Deutsche Bank leveraged its big stake in the Alternative A MBS market to rank as the top trustee for MBS issued during the first half of 2007, according to a new Inside MBS & ABS ranking. Deutsche was named trustee on a... [Includes two charts]
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The subprime MBS market fell to a three-year low during the second quarter of 2007 before spooking global financial markets and effectively evaporating. A total of $81.86 billion of subprime MBS were issued during the second quarter of... [Includes two charts]
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Regulators, industry representatives and the Federal Home Loan Banks have begun batting around ideas for using the government-sponsored enterprises to securitize what is expected to be a huge crop of underperforming and re-performing subprime mortgages. “People...
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Commercial banks held $92.24 billion of non-mortgage ABS in their portfolios at the end of June, a gain of 2.6 percent from the previous period. That was still well below the record $104.22 billion the industry held at the end of 2003... [Includes one chart]
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