Secondary Market/Investors
Last Updated: November 6, 2009 5:42 pm CST
RMBS Ratings Proposal Will Determine Insurers’ Capital Requirements
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 by extension help to determine the risk-based capital requirements of these RMBS. “Compared to the rest of financial services, the insurance industry has weathered the impact of the credit crisis extremely well,” said NAIC president and New... more»
Ginnie’s Single-Family Delinquency Rate Drops to 3.48%
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 2009, Ginnie has provided nearly $376bn of liquidity to the secondary market, a 71.6% increase from $219bn for the same time period in 2008. Thomas Weakland, Ginnie’s executive vice president, said that Ginnie has been quick to modify and create... more»
recent Secondary Market/Investors stories
RMBS Ratings Proposal Will Determine Insurers’ Capital Requirements
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... more»
Ginnie’s Single-Family Delinquency Rate Drops to 3.48%
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... more»
BarCap Sees ‘Limited Use’ of Fannie’s Deed-for-Lease Program
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,... more»
Fannie Asks Treasury for $15Bn, May Sell Housing Tax Credits
Financial fallout at mortgage giant Fannie Mae (FNM: 1.04 -7.14%) continues to develop following the $19.8bn quarterly net loss, with the agency’s conservator confirming... more»
Fed Buys Another $16Bn of Agency MBS
The Federal Reserve Bank of New York bought $16bn of mortgage-backed securities (MBS) from housing finance agencies Freddie Mac (FRE: 1.23 -1.60%), Fannie Mae (FNM: 1.04
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Events
2009 Dec 09 -- 2009 Dec 10
RMBS: Assessing Value and Risk
This two-day course in New York City will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
2010 Jan 13 -- 2010 Jan 14
2010 Collection Technology Summit
The Collection Technology Summit is the first industry event to focus solely on collections and its associated technologies and continues to draw top executives from the nation's most prominent institutions. The Collection Technology Summit, where innovation happens. For more information, visit www.collectiontechnology.net

