Fewer adjustable-rate mortgages are making their way into the MBS market as borrowers are increasingly likely to choose fixed-rate loans and portfolio lenders appear to be holding on to ARMs. A total of just $88.37 billion of ARMs were... [Includes three charts]
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Plummeting market values and rising credit costs pushed Freddie Mac to a record $2.0 billion loss in the third quarter as the government-sponsored enterprise recognized a $3.5 billion reduction in the fair value of its non-agency MBS holdings. And though there were...
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Standard & Poor’s continued to rate just about every non-agency MBS deal issued in the public markets, according to a new analysis by Inside MBS & ABS. Meanwhile, Moody’s Investors Service remained the top rating company in the non-mortgage ABS... [Includes two charts]
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Foreclosures will continue to increase as federal regulators grapple with how to solve the problem, according to Robert Steel, the Treasury Department’s under secretary for domestic finance. This week, Steel said Treasury expects the foreclosure rate to...
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The secondary market received some relief as the House approved anti-predatory lending legislation late last week. The House limited states’ options for actions against securitizers and assignees. The House approved H.R. 3915, the “Mortgage Reform and...
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In a reversal of activity from the second quarter, the 12 Federal Home Loan Banks boosted their collective holdings of mortgage-backed securities 6.6 percent during the third quarter. During the second quarter, the FHLBanks had scaled back their MBS portfolios a...
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