Commercial banks dumped mortgage securities from their portfolios during the third quarter, but virtually all of the decline was in holdings of Fannie and Freddie pass-through securities as banks actually added more non-agency MBS... [Includes three charts]
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Mortgage securitization rates stayed at very high levels through the end of the third quarter, despite severe upheaval in secondary markets and plummeting MBS issuance in the non-agency market. An estimated 74.2 percent of new mortgages originated in the first...
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Investors may end up taking as much as $400 billion in writedowns on subprime MBS holdings, analysts say, but opaque pricing in the market may distort the final tab paid for the market debacle. Currently, the closest publicly available proxy for subprime MBS...
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Residential Capital continues to ail and its parent, GMAC, last week acknowledged that it is still considering selling the business that includes Residential Funding Co. and GMAC Mortgage, two of the major non-agency MBS issuers in recent years. GMAC is looking to add to...
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Recent federal court rulings raising questions about investors’ legal standing in certain mortgage foreclosure filings will have no impact on the securitization market, experts say. Decisions by two federal district court judges in Ohio to dismiss 48 foreclosure...
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The Bush administration stuck to an earlier promise not to rock an already fragile secondary mortgage market and announced that there will be no change in the conforming loan limit, which will stay at $417,000 for single-family homes in 2008... [Includes one chart]
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The severe liquidity crunch of late 2007 appears to be producing an era of uncommonly slow prepayment speeds that will change how MBS perform, according to a new study from analysts at RBS Greenwich Capital. Only about 16 percent of the outstanding universe of...
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