While last week’s ruling by Massachusetts’ highest court invalidating two foreclosures due to procedural errors was not exactly welcome news, the decision actually contains some significant upsides for the mortgage securities business, noted legal experts and industry insiders. The Massachusetts Supreme Judicial Court’s unanimous ruling in U.S. Bank National Association v. Ibanez upheld...
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The Securities and Exchange Commission has proposed new rules that will require most asset-backed securities issuers to file ongoing reports for the duration of the security’s life, with limited exceptions. SEC rules currently allow...
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As the specter of increased interest-rate reset risk on a variety of mortgage loans looms over the non-agency MBS market, analysts are warning of potential losses to bondholders if further policy actions are not taken. Analysts at Barclays Capital are predicting...
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Fannie Mae, Freddie Mac and Ginnie Mae generated $495.2 billion in agency-backed structured securitizations last year, a significant 62.0 percent increase over the prior year at a time when production of underlying agency pass-through securities was declining. The big surge came...
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The forthcoming federal rule on risk-retention for non-agency securitizers could become a vehicle for a wide range of new securitization requirements, including enhanced disclosure and new national servicing standards. The Federal Deposit Insurance Corp. is...
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MBS investors are becoming increasingly involved in the fast-changing regulatory environment for the securitization market, bringing more attention to the need for changes in servicing. A group of public pension funds from New York, Illinois, Connecticut, North Carolina, and Oregon this week collaborated...
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