Mortgage bankers pumped $108.66 billion of new single-family mortgages through the three agency MBS programs during August, according to a new Inside MBS & ABS ranking and analysis. That was up only 2.6 percent from the securitization volume in July and left the MBS market... [Includes one data chart and one graph]
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A closely-watched barometer of future prepayment activity recently reached its highest level since the mythic 2003 refinance boom, but it may take a dramatic move by the Obama administration to whip the MBS market into a higher gear. The Mortgage Bankers Association reported that...
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The American Securitization Forum has issued a standard form of confidentiality agreement to help “arrangers” and credit rating agencies implement the requirements of the Securities and Exchange Commission’s Rule 17g-5 despite continuing disagreements among members over...
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The Securities and Exchange Commission plans to extend for another 18 months a temporary filing accommodation for asset-backed securitizations under Rule 312 that will allow ABS issuers under certain circumstances to meet disclosure requirements by posting static pool data on a website rather than...
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A recently-issued investigative report by the Securities and Exchange Commission serves as a cautionary tale for credit rating agencies on deceptive ratings practices, including a lack of oversight in the determination of credit ratings. On August 31, the SEC issued a Report of Investigation, the main focus of which was...
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Investors that have purchased more than $26 billion of MBS issued by Countrywide Financial are calling for the Bank of New York, as trustee, to open an investigation of ineligible mortgages in the pool backing the securities. The investors issued binding instructions last week to BNY Mellon as they attempt to...
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