Obituaries for the subprime securitization market seem to be premature, as subprime MBS issuance finished strongly in the fourth quarter of 2006, rebounding from a sluggish third quarter to near-record highs. Subprime securitization for the year certainly ended on a high note...
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Warehouse lenders are growing skittish about the subprime mortgage business, causing the recent demise of a number of smaller subprime shops. Popular Financial Holdings and Mortgage Lenders Network abandoned the subprime market as they ceased their...
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The Federal Reserve this week urged subprime lenders to employ “prudent” underwriting standards and be wary of portfolio concentrations, warning that it will continue to closely monitor subprime lenders...
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Merrill Lynch completed its purchase of top-10 ranked subprime lender First Franklin Financial at the end of 2006, capping off a year in which Wall Street investment banks scooped up originators to feed mortgage-backed securities business...
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Subprime mortgage lenders should be constantly monitoring for potential violations of “unfair or deceptive acts or practices” prohibitions, to avoid ratings downgrades and regulatory enforcement actions, a Federal Deposit Insurance Corp...
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Extended amortization products, such as 40-year mortgages, are gaining popularity within the subprime market, and Moody’s Investors Service recently announced a favorable stance on the products as well. However, the rating service also warned...
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Congressional hearings on the subprime market... Alliance Home Funding ceases operations... Long Beach Mortgage implements stricter underwriting guidelines...
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