Although they are among the biggest MBS investors on the planet, Fannie Mae and Freddie Mac saw their MBS portfolios continue to decline during the third quarter as the two government-sponsored enterprises glide down a long, slow path to an unknown future. As of the end of September, the two GSEs held...[Includes one data chart and one graph]
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Private conduits are gearing up to buy prime jumbo mortgages that could spark a modest revival in non-agency MBS issuance. BlackRock Inc. reportedly has formed a new $1 billion BlackRock Mortgage Investors Fund which will serve as a source of capital for prime jumbo loans. The fund is intended...
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Trustees in non-agency MBS and non-mortgage ABS have relatively narrow responsibilities that do not include resolving disputes between investors and servicers, according to the American Bankers Association. In a white paper released this week, the ABA refuted...
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Despite hopeful signs in the mortgage and housing markets, credit analysts continue to take the pessimistic view that things could get worse before they could get any better. The latest reports from Standard & Poor’s and Fitch Ratings indicate a slower recovery pace as delayed liquidations increase...
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Loan-level data can shed some light on the amount of potential repurchase activity in non-agency deal MBS, according to a recent report issued by a group of Barclays Capital analysts. Barclays analysts studied a sample of 4,000 first-lien mortgages that had been repurchased...
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Bank of America won a dismissal in a class-action lawsuit that could still go forward on a significantly narrower scale and counterpunched another investor demand that the company repurchase a large number of loans from non-agency MBS issued by Countrywide Financial. The U.S. District Court for the Central District of California...
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Government policymakers tried to assure securitization executives that the new Dodd-Frank Act won’t prevent the recovery of a market that faces a historic onslaught of new federal regulations. “I will be the first to admit our bill isn’t perfect – I believe the bill accomplished...
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