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Inside MBS & ABS

April 4, 2008

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Agency Business Props Up MBS Issuance In Early 2008 While Private Market Stalls

The mortgage securities market turned in a surprisingly solid quarter of new production during the first three months of 2008, with total issuance dropping just 2.6 percent from the previous period, according to a new market analysis... [Includes two charts] Read More

Called Upon to Help Stop ‘Fair Value’ Writedowns, SEC Instead Encourages More Investor Disclosure

Facing calls to suspend the fair value accounting which has led to billions of dollars worth of writedowns on MBS, the Securities and Exchange Commission refused to budge. In fact, late last week, the regulator actually encouraged greater disclosure... Read More

Senate Puts Cramdown Aside as Lawmakers Make First Move to Address Mortgage Foreclosures

A bipartisan economic stimulus package forged by key Democrats and Republicans in the Senate this week sets aside – for the moment at least – a controversial proposal that would allow bankruptcy courts to reduce secured home mortgages to the current... Read More

Treasury Advises Fed to Ensure Transparency, Attach Proper Conditions, Consider Broader Issues if Eyeing More Moves

The long-term financial regulatory overhaul proposed this week by the Treasury Department includes some short-term advice for the Federal Reserve Board should it feel compelled to make another dramatic liquidity boost to the market in the future... Read More

S&P Says Rate Cuts Ease Subprime and Alt A Payment Shock, But Market Conditions Remain Adverse

While some hybrid ARM borrowers may experience lower default risks as a result of recent declines in interest rates, the impact of tighter underwriting guidelines and reduced investor appetite for mortgage loans may leave borrowers in worse shape, say analysts at... Read More

Agency REMIC Volume Increases in Early 2008, Fannie Takes the Lead

Fannie Mae moved ahead of long-time leader Freddie Mac to become the top issuer of agency-backed structured mortgage securities during the first quarter of 2008. According to a new ranking by Inside MBS & ABS, a... [Includes two charts and one graph] Read More

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