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Inside MBS & ABS

April 22, 2011

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Resecuritizations Continue to Dominate Non-Agency MBS Issuance, But New Rules May Get in the Way

With the flow of new jumbo mortgage securitizations still running at a trickle, the non-agency MBS market remains dominated by resecuritization deals that face new regulatory hurdles ahead. New issuance of non-agency MBS dropped...[Includes four data charts] Read More

BofA Pays Assured, Great Victory for Bond Insurance Industry, Analysts Say

Assured Guaranty announced a settlement with Bank of America last week for over $1 billion in cash, a sign that other bond and mortgage insurance companies might be able to recover some money from pending lawsuits, according to industry analysts. “The Assured-BofA settlement is... Read More

ASF Asks Congress to Block FDIC ‘Safe Harbor’ Securitization Rule That May Impede Rebound

The risk-retention rule recently proposed by federal regulators provides a lot more flexibility for issuers of non-mortgage ABS than the safe-harbor regulation adopted by the Federal Deposit Insurance Corp., according to the American Securitization Forum. In fact, the FDIC safe-harbor rule is... Read More

Senate Report Blames Credit Agencies for Crisis, Urges SEC to Keep a Keen Eye Out

Credit rating agencies were lambasted by the Senate Permanent Subcommittee on Investigations report released last week for their role in igniting the financial crisis, saying they artificially pumped up residential MBS ratings for the sake of profit. “The most immediate cause of the financial crisis was... Read More

Rebounding Commercial MBS Market Yields Variations in Deal Structures, Experts Say

Backed by a significant amount of collateral from older deals, the rebound in commercial MBS activity has taken on a different look than the pre-crash market, experts say. The “CMBS 2.0” market is expected... Read More

U.S., European Securitization Market Participants Watch Effect of Each Other’s Risk-Retention Rules

Even as securitization market watchers in both the U.S. and the European Union attempt to reconcile each other’s new and evolving risk-retention rules, experts warn that an obscure provision of the Dodd-Frank Act could complicate... Read More

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