Rate-term refinances drove the modest increase in agency MBS issuance in November, especially at Fannie and Freddie. Ginnie production was down. (Includes two data charts.)
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An SEC committee hosted a panel discussion in November regarding the compensation model for rating services. The regulator hasn't made a decision on whether reforms are needed to the issuer-pays model.
FSOC continues to focus on the risk posed by nonbanks, which are key players in the MBS market. But is the regulator worrying too much? Opinions differ.
Since 2006, only one rated whole business securitization has defaulted. Investors in the deals are protected by various features, including a model that isn't particularly reliant on issuer profits.
Although most of the CSS software developers let go were contractors, the company did have a few employees working in development. Now that the platform is finished, those positions are no longer required.
The founder and CEO of Premium Point Investments, New York, was sentenced to 50 months in prison for overvaluing by $100 million the value of securities his hedge fund had invested in.
Late last month, a Manhattan district court judge denied a plaintiff investor's motion to hire experts to perform statistical sampling analysis in a case involving legacy MBS.