Commercial banks, mutual funds and other investor groups scooped up the massive deleveraging of MBS by REITs at the end of the first quarter. Since then, the Federal Reserve has added $408 billion to its agency MBS holdings. (Includes two data charts.)
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It’s increasingly possible the Federal Reserve will add jumbo MBS to the assets eligible for TALF, according to Structured Finance Association CEO Michael Bright.
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The use of extensions on subprime auto ABS more than doubled in April on a monthly basis. The outlook for performance is uncertain with enhanced unemployment benefits set to end in July.
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A federal judge in Delaware rejected the CFPB’s $19.1 million proposed consent decree with 15 student loan trusts because the law firm that signed on behalf of the defendants lacked authority.
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