secondary market

Welcome to the 'secondary market' tag page at Technorati. This page features content from the farthest reaches of the Blogosphere that authors have "tagged" with 'secondary market'.

Latest blogosphere posts tagged “secondary market”

• Loss Severity May Reverse Recent Stability: Amherst

  
  Housing Wire — Authority: 691
  Mortgage loan loss severities may have leveled off in recent months, although the latest mortgage insight study from Amherst Securities Group expects a modest increase in severity in coming months.The increase may arrive due to further drops in house prices, continued increases in liquidation lags and less favorable ...
  14 hours ago

• Jury Acquits Bear Stearns Fund Managers of Securities Fraud

  
  Housing Wire — Authority: 691
  Ralph Cioffi and Matthew Tannin, hedge fund managers at investment bank Bear Stearns, were acquitted of charges relating to alleged securities fraud.in June 2008, Cioffi and Tannin were arrested and processed at Federal Bureau of Investigation (FBI) headquarters in Manhattan.As HousingWire previously reported, the two ...
  16 hours ago

• Ambac Warns of Impending Bankruptcy

  
  Housing Wire — Authority: 691
  After posting profits of nearly $2.2bn in Q309, bond insurer Ambac Financial Group (ABK: 0.79 -33.05%) warned in a regulatory filing that it may need to file for bankruptcy protection.In the Securities and Exchange Commission (SEC) filing, Ambac said the $164.7m it holds in cash, short-term investments and bonds is ...
  1 day ago

• Homebuyer Tax Credit Extension, a Mixed Bag for IBs

  
  Housing Wire — Authority: 691
  
  1 day ago

• Fitch Sees Prepayment Rate Near 7% for ‘04 Subprime RMBS

  
  Housing Wire — Authority: 691
  Performance of ‘04-vintage subprime residential mortgage-backed securities (RMBS) worsened as prepays increased in a review by Fitch Solutions, despite signs of stabilization among more recent subprime RMBS vintages.Fitch’s ‘04 vintage subprime RMBS price index dropped 16.7% in the most recent month of data, ...
  1 day ago

• Monoline MBIA Posts $727.8m Loss in Q309

  
  Housing Wire — Authority: 691
  MBIA (MBI: 3.52 -26.67%) lost $727.8m, or $3.50 per share, during Q309, compared to an $806.5m loss, or $3.42 per share, in Q308.Results were impacted by a number of losses, including an $810.2m pre-tax unrealized loss on insured credit derivatives, and $238.8m in pre-tax loss and loss adjustment expenses related to ...
  1 day ago

• Deutsche Expects 32% Peak-to-Trough House Price Decline

  
  Housing Wire — Authority: 691
  Housing in the US is on track to lose nearly one-third — or 32% — of its aggregate value from peak to trough, according to Deutsche Bank research on the non-agency residential mortgage-backed security (RMBS) market.The aggregate value of the US housing market for 75.5m total US homeowners stood at $24trn at its ...
  1 day ago

• Freddie Says More Treasury Funds Unnecessary After $5Bn Loss

  
  Housing Wire — Authority: 691
  Mortgage giant Freddie Mac (FRE: 1.23 0.00%) on late Friday posted a $5bn net loss in Q309 and $10.4bn net worth in Q309.Unlike sister government-sponsored enterprise (GSE) Fannie Mae (FNM: 1.04 0.00%), Freddie said it would not require additional Treasury Department funds through the senior preferred stock purchase ...
  2 days ago

• Monday Morning Cup of Coffee

  
  Housing Wire — Authority: 691
  A look at the stories on HousingWire’s weekend desk…with more coverage to come on bigger issues:The industry buzzed this weekend over news of continued heavy losses at the government-sponsored enterprises (GSEs).Mortgage giant Freddie Mac (FRE: 1.23 0.00%) posted a $5bn net loss in Q309 at $10.4bn net worth as of ...
  3 days ago

• RMBS Ratings Proposal Will Determine Insurers’ Capital Requirements

  
  Housing Wire — Authority: 691
  The National Association of Insurance Commissioners (NAIC) on Thursday approved a proposal to establish a new model for determining ratings of residential mortgage-backed securities (RMBS).The new model will establish ratings designations for approximately 18,000 RMBS owned by US insurers by the end of 2009. It will ...
  5 days ago

• Ginnie’s Single-Family Delinquency Rate Drops to 3.48%

  
  Housing Wire — Authority: 691
  The Government National Mortgage Association, Ginnie Mae, guaranteed more than $38.6bn in mortgage-backed securities (MBS) in October.In September, Ginnie reported that 3.48% of the single-family loans in its guaranteed securities were 90-plus days delinquent, down from 3.7% in August and 3.59% in December 2008.For ...
  5 days ago

• BarCap Sees ‘Limited Use’ of Fannie’s Deed-for-Lease Program

  
  Housing Wire — Authority: 691
  Although a new foreclosure alternative program announced Thursday by Fannie Mae (FNM: 1.04 -7.14%) presents a new step in mitigating foreclosure risk among distressed borrowers, it looks to have only a “marginal” effect on prepayments within Fannie residential mortgage-backed securities (RMBS), according to market ...
  5 days ago

• Fannie Asks Treasury for $15Bn, May Sell Housing Tax Credits

  
  Housing Wire — Authority: 691
  Financial fallout at mortgage giant Fannie Mae (FNM: 1.0399 -7.15%) continues to develop following the $19.8bn quarterly net loss, with the agency’s conservator confirming Fannie may sell as much as $2.6bn of low-income housing tax credits to investors and is requesting another $15bn in support from the US Treasury ...
  5 days ago

• Fed Buys Another $16Bn of Agency MBS

  
  Housing Wire — Authority: 691
  The Federal Reserve Bank of New York bought $16bn of mortgage-backed securities (MBS) from housing finance agencies Freddie Mac (FRE: 1.20 -4.00%), Fannie Mae (FNM: 1.0399 -7.15%) and Ginnie Mae in the week ending November 4.The Fed bought $3.27bn from Freddie, $12.55bn from Fannie and $175m from Ginnie. For the first ...
  5 days ago

• PennyMac REIT Invests $69M in Private-Label RMBS

  
  Housing Wire — Authority: 691
  In its first two months of operation, PennyMac Mortgage Investment Trust (PMT: 17.88 -3.77%), a newly formed mortgage real estate investment trust (REIT), invested nearly $70m in private-label — or non-agency — mortgage-related securities.The REIT’s initial investments produced $816,000 of total revenues, offset ...
  5 days ago

• Fannie Mae Loses $19.8bn in Q309

  
  Housing Wire — Authority: 691
  Fannie Mae (FNM: 1.12 +2.75%) posted a net loss of $19.8bn, or $3.47 per share, in Q309, compared with a net loss of $15.2bn in Q209, according to a Securities and Exchange Commission (SEC) filing.The results were impacted primarily by $22bn in credit-related expenses, which substantially offset revenue of $5.9bn, ...
  6 days ago

• S&P Approves Opus CMC for Third-Party Due Diligence

  
  Housing Wire — Authority: 691
  Standard & Poor’s approved Opus Capital Markets Consultants (Opus CMC) as a third-party due diligence provider for residential mortgage-backed securities (RMBS) transactions.S&P’s approval of the third-party consultant firm is the latest step toward improved quality and transparency of MBS, Opus CMC ...
  6 days ago

• Ambac Posts $2.2Bn Profit on Mark-to-Market Gains

  
  Housing Wire — Authority: 691
  Bond insurer Ambac Financial Group (ABK: 1.20 -20.00%) posted net income of $2.2bn, or $7.58 per share, in Q309, compared with a net loss of $2.4bn in the year-ago quarter.Quarterly results were impacted by unrealized mark-to-market gains in the New York City-based financial services and insurance firm’s credit ...
  6 days ago

• BoE Injects Another $41Bn into UK Asset-Purchase Plan

  
  Housing Wire — Authority: 691
  The Bank of England (BoE) on Thursday voted to inject another £25bn (US$41.4bn) into its asset-purchase program, bringing the total size of the program to £200bn as financial conditions remain “fragile” both across Europe and internationally.The BoE monetary policy committee also decided to keep the official ...
  6 days ago

• Viewpoint: Like Us, Whitney Sees Risks in Fed’s MBS Exit

  
  Housing Wire — Authority: 691
  HousingWire readers have already been reminded on a number of occasions that the Federal Reserve dominates the agency/GSE MBS market (and has since the purchase plan was announced almost a year ago) and that banks and would-be mortgage borrowers are first in line to be whacked when the Fed exits the MBS market. So I ...
  1 week ago

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