There were two bright spots in the first quarter: Non-agency MBS issuance rebounded strongly and ABS production saw a solid gain. But agency single-family tanked again, as did CMBS. (Includes three data charts.)
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The SEC’s proposed rule on conflicts of interest in the securitization market is unworkable and unnecessarily broad, according to industry stakeholders.
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No one likes to be asked to repurchase a mortgage that’s already been securitized. But are the GSEs playing too tough on buyback requests on performing loans? The issue has reached the FHFA.
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Silicon Valley Bank failed after complications involving funding provided to the bank by the Federal Home Loan Bank system and the Federal Reserve. MBS holdings also played a role in the bank’s failure.
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Speakers on a recent dv01 panel said unemployment would be a key factor in performance moving forward. Unsecured consumer loans are demonstrating some weakness, while auto performance is normalizing.
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In a new book, James Lockhart, FHFA’s first director, outlines the events leading up to the conservatorship of Fannie Mae and Freddie Mac. More than a decade later, the events and debates are still relevant.
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Information technology upgrades at Ginnie Mae can play a key role in helping transform the housing ecosystem, according to the agency’s chief information officer.
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The MBS held by two failed banks will soon hit the market; specified pool trades hit record level in March; Fannie increases disclosures on multifamily MBS; LIBOR to live on in synthetic form.
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