The securitization industry is calling for a national mortgage lending standard and a balanced approach to subprime lending regulation, as well as cautioning against labeling certain mortgage products as “unfair,” “deceptive,” or “abusive.” Commenting on the...
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The liquidity freeze in the non-agency MBS market is thick enough to drive a fleet of trucks across, and new issuance has slowed to a crawl. A mere $21.47 billion of new non-agency MBS were issued during the first quarter of 2008, the... [Includes three charts]
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There is little doubt that fair value accounting has driven massive MBS writedowns that have toppled companies, unnerved investors and pulled some of the carpet out from under the economy. But experts remain divided over whether fair value is an...
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Fannie Mae and Freddie Mac have not yet issued any securities backed by “conforming jumbo” mortgages, but the two government-sponsored enterprises are starting to shop around for collateral and could begin issuing MBS in the next few weeks. The economic stimulus...
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Moody’s Investors Service warned late last week that downgrades are possible for some prime jumbo MBS issued in 2006 and 2007, and placed 23 tranches from 11 deals on review. “Downgrades in the jumbo sector have traditionally been rare,” Moody’s...
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Traditional U.S. asset-backed commercial paper programs have substantially cut back their exposure to collateralized debt obligations and residential mortgage collateral throughout the past five quarters, according to a new analysis by Fitch Ratings...
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