Securitizers of subprime mortgages sold fewer bonds to Fannie Mae and Freddie Mac during the first nine months of this year, a new Inside B&C Lending analysis reveals. The analysis looked at issuance of so-called GSE classes, or... [Includes one chart]
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A new best practices plan likely won’t put too much of a dent in loan volume, officials at New Century Financial say. The California-based mortgage bank launched the updated best practices last month in response to changes in the marketplace and new regulatory...
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Standard & Poor’s and Moody’s Investors Service dominated the subprime MBS rating business during the first nine months of 2006, a new analysis reveals. According to... [Includes 1 chart and 1 graph]
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Investing in subprime mortgages is tricky business during the best of times. But the matter has been complicated recently by layering of affordability features and low-documentation options. The result is a complex environment that has put a premium on risk management and...
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Morgan Stanley ran the busiest subprime MBS shelf during the first nine months of 2006. But the importance of so-called dealer shelves in the marketplace appears to have dwindled a bit in the latter part of the year. According to data compiled by... [Includes 2 charts]
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A slowdown in the subprime MBS market has taken its toll on the net interest margin sector, where volume at the end of September lagged last year’s pace. According to data compiled by the Inside Mortgage Finance MBS Database, $8.58 billion in... [Includes one chart]
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Profit growth proved elusive for subprime lenders in the third quarter as competitive pressures continued to wreak havoc on bottom lines. How difficult is the profit environment right now? Some lenders report that they are having trouble making headway...
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Just when you thought the legal controversy about yield-spread premiums was settled, a Washington court has re-opened the issue by certifying a class action lawsuit against NovaStar Mortgage.At issue in Pierce, et. al. v. Novastar Mortgage...
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Fair Isaac is touting a new study that the firm says demonstrates the effectiveness of a scoring model designed for borrowers... Ohio’s Supreme Court has overturned Cleveland’s controversial predatory lending ordinance. By a 5-2 vote, the court ruled that the...
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