Secondary Market/Investors
Last Updated: July 2, 2009 1:39 pm CST
BofA Sees Residential Investments Feeding Greener Shoots
Economic growth in the second half of the year is expected to come in “substantially” above previous consensus, according to economic commentary this week from Bank of America/Merril Lynch analysts. Lori Helwing, an economist at BofA/Merrill Lynch, says the analysts there now expect a 2.1% slip in real gross domestic product (GDP) in 2009, 30 bps improved from the old -2.4% estimate. The US economics team also expects 2.6% growth in real GDP in 2010, up significantly from the old 1.8% estimate. The revised projections come as the analysts see... more»
Fitch Takes Action on Older Subprime Mortgage Securitizations
Fitch Ratings took action on thousands of classes of subprime residential mortgage-backed securities (RMBS) issued prior to 2005, including many downgrades of some classes further into triple-C and single-D junk territory and affirmations of other triple-A classes. The actions come as part of Fitch’s ongoing adjustments for deteriorating subprime performance. They indicate RMBS originated before the height of the housing bubble have yet to reach the full extent of default-related losses. Fitch said it expects losses as a percentage of the original pool... more»
recent Secondary Market/Investors stories
BofA Sees Residential Investments Feeding Greener Shoots
Economic growth in the second half of the year is expected to come in “substantially” above previous consensus, according to economic commentary this week from Bank of America/Merril Lynch... more»
Fitch Takes Action on Older Subprime Mortgage Securitizations
Fitch Ratings took action on thousands of classes of subprime residential mortgage-backed securities (RMBS) issued prior to 2005, including many downgrades of some classes further into triple-C and single-D... more»
Freddie Draws $6.1 Billion to Cover Liabilities
Mortgage giant Freddie Mac (FRE: 0.65 +1.56%) this week drew $6.1bn from the preferred stock purchase agreement between the company and the US Treasury Department. The Treasury... more»
In This Corner: Principia Partners EVP, Mark Kahn
Mark Kahn is an executive vice president at Principia Partners – a provider of operational software for the management of structured finance portfolios. In the latest installment of In This Corner, Kahn... more»
HGI Looking to Buy, Buy, Buy
English fund manager Henderson Global Investors (HGI) is going on a buying rampage in an effort to capitalize on the worldwide distressed asset market. According to HousingWire sources, HGI is looking... more»
recent stories
- Rates Continue Drop from June High Origination/Lending
- BofA Sees Residential Investments Feeding Greener Shoots Secondary Market/Investors
- Fitch Takes Action on Older Subprime Mortgage Securitizations Secondary Market/Investors
- Freddie Draws $6.1 Billion to Cover Liabilities Secondary Market/Investors
- Beazer to Pay $53 Million in Mortgage Settlement Origination/Lending
- Stewart Title Ahead of RESPA Schedule Origination/Lending
- First Federal of California Nears $1bn in Modified Loans Origination/Lending
- In This Corner: Principia Partners EVP, Mark Kahn Secondary Market/Investors
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Events
2009 Jul 09 -- 2009 Jul 10
USFN Legal Issues in Mortgage Servicing Seminar
Geared towards in-house counsel, designed to discuss current legal issues in the mortgage servicing industry and real estate finance. Closed event in Chicago, Ill.; for more information, visit www.usfn.org.
2009 Oct 04 -- 2009 Oct 05
IMN's 15th Annual ABS East
Hosted at the Foutainebleau Resort Miami Beach in Miami, FL, the theme of this year's event is "Navigating a Path to Recovery" and alludes to decisive actions by the government and industry leaders to set a course that will hopefully lead to a revived and robust US securitization market. For more information, visit www.img.org.
2009 Oct 20 -- 2009 Oct 21
RMBS: Assessing Value and Risk
This two-day course in Washington, DC 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.