The severe liquidity crunch that has dominated the MBS market since July 2007 continued to worsen in the fourth quarter as new securitization of subprime and Alt A deals virtually ground to a halt in December. According to preliminary... [Includes two charts]
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A mortgage loan does not have to be 120 days delinquent to qualify for Wall Street’s fast-track loan modification plan even if it is held in a securitization trust as long as the default is “reasonably foreseeable,” according to the American Securitization Forum...
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Hoping to increase efficiency and lower costs for the securities industry, the Securities Industry and Financial Markets Association has issued the final version of its revised guidelines that will facilitate electronic delivery of offering materials for securities...
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Standard & Poor’s suggests its new minimum overcollateralization levels for mortgage-backed securities will result in fewer downgrades. The rating service also recently took a number of actions relating to Alt A MBS. After downgrading massive amounts...
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Both Fannie Mae and Freddie Mac have seen their capital levels under stress for much of 2007, and that’s meant plenty of purchasing opportunities have been passed by. The latest capitalization report by the Office of Federal Housing Enterprise Oversight just...
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New issuance of agency-backed structured MBS declined with the rest of the mortgage securities market during the fourth quarter, bringing total production for the year to its lowest annual level since 2000, according to a new... [Includes two charts]
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Ginnie Mae has revised its method of reporting tax information to MBS investors and the Internal Revenue Service, based on changes to IRS rules for widely held fixed investment trusts. The announced changes in APM 07-16 supersede previous reporting requirements to...
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