With little primary market production of subprime mortgages and an overhang of unwanted home-equity securities in the market, new HEL securitization activity will likely remain at historically depressed levels well into 2008. According... [Includes two charts and one graph]
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House Democrats this week reached an agreement with the Bush administration to raise Fannie Mae and Freddie Mac loan limits significantly for one year, as part of a broader stimulus package to help the sluggish U.S. economy. Details remain sketchy. The House...
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With no thaw in sight for the deep freeze in the subprime and Alt A markets, conforming originations are expected to dominate primary market originations and mortgage securitization activity this year. Still, prime purchase mortgage activity could suffer as the...
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A highly detailed report by Standard & Poor’s on mortgage servicers reveals that subprime servicers are performing better than prime servicers in certain circumstances. Surprisingly, the average subprime foreclosure cure rate was within S&P’s standards...
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Subprime mortgage losses are now haunting bond guarantors, as company losses are expected to rise and rating service evaluations are likely to drop. Standard & Poor’s announced last week the results of an update to its bond insurance stress...
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The bond insurance industry appeared to catch some needed help this week when the New York State Insurance Department announced a three-part plan to facilitate its recovery. The plan calls for attracting more capital and increase capacity to...
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The U.S. Supreme Court has rejected an attempt by plaintiffs’ class-action attorneys to expand the scope of third-party liability for investor losses in a securities case. Ruling in Stoneridge Investment Partners v. Scientific-Atlanta, Inc., the court...
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