A decision announced late last week to exclude agency MBS backed by jumbo mortgages from the efficient to-be-announced market may push interest rates higher on these loans and curtail some of the liquidity the government is trying to pump into the secondary...
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Bond insurers continue trying to regain their footing as the structured finance business keeps crumbling beneath them. MBIA Inc., the world’s largest bond insurer, has been forced to consider splitting into two units, one for its... [Includes one graph]
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The financial industry’s hemorrhaging from its mortgage wounds continued at an astounding pace over the last week, as Credit Suisse and UBS announced they might have to take a combined $21.15 billion in writedowns. Credit Suisse said this week it will to...
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Standard & Poor’s maintained its position as the top rating service in the non-agency MBS market, providing coverage on 93.6 percent of new rated issuance in 2007, according to a new market analysis and ranking by Inside MBS & ABS. S&P’s share of... [Includes two charts]
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The severe liquidity problems that gripped the subprime MBS market in the middle of 2007 worsened as the year wore on, and there is little prospect for significant improvement this year, according to Standard & Poor’s. New primary market production of subprime...
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Deutsche Bank was named as trustee for some $135.99 billion of new non-agency MBS issued in 2007, finishing the year with a 20.9 percent share of the market. Deutsche was tops in both the subprime and Alt A sectors, the two parts of the... [Includes two charts]
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An annual survey of community banks revealed an unexpectedly optimistic outlook for the mortgage market this year, although most of the respondents had little exposure to the subprime market at the time the sector was beginning to crumble. Some 39 percent of...
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