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Items Tagged with 'mortgage bonds'

ARTICLES

Mortgage bond spreads tighten to lowest level in two years

Hesitant investors to blame
Ben Lane
Hesitant investors are driving down mortgage bond yield spreads to a level not seen in more than two years. Is the rise in overall yields to blame?
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Credit Suisse settles Assured Guaranty mortgage lawsuit

Terms remain undisclosed
Jacob Gaffney
Assured Guaranty said in a statement posted on its website that it had reached an agreement to resolve the dispute without disclosing the terms.
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Freddie Mac CEO: We’re studying alternatives to FICO

This, and 3 other exciting developments
Jacob Gaffney
One quote from Donald Layton's third quarter earnings call arouses curiosity. Layton said Freddie Mac was “upgrading critical infrastructure.” Here's what that means and why these changes are so critical.
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Banks unsure if mortgage bonds count as liquidity coverage

$1.1 trillion mortgage debt on the table
Brena Swanson

Despite new regulation meant to ensure banks have enough easy-to-sell assets to survive a crisis, banks are nervous over whether or not their $1.1 trillion of aggregated mortgage debt qualifies as this type of asset.


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Mortgage-bond price tumbles amid increased risks

Fannie, Freddie witness significant drops
Brena Swanson
Prices of a new type of U.S. Mortgage bond are tumbling as investors discover the risks in the market from Wall Street banks, with Fannie Mae and Freddie Mac bonds witnessing some of the biggest drops.
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Private mortgage bond market could stage a comeback

Treasury Secretary Jacob Lew expected to announce new initiative
Brena Swanson
The Treasury Department will launch an initiative to revive the market for mortgage securities without government backing, bringing together institutional investors and issuers of mortgage bonds to create guidelines for the new venture.
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BlackRock, Pimco sue Wells Fargo, Citi, others over mortgage bonds

Allege that trustees should have forced banks to buy back toxic loans
Ben Lane
BlackRock and Pimco are leading a group of investors who have filed suit against six of the largest mortgage bond trustees, alleging that the trustees failed to properly administer the mortgage trusts by not forcing mortgage lenders to repurchase toxic loans.
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Citi agrees to $1.125 billion mortgage bond investor settlement

Resolves legacy mortgage-backed securities
Jacob Gaffney
"This settlement resolves a significant legacy issue from the financial crisis and we are pleased to put it behind us," Citi said in a statement.
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Bank of America’s dire mortgage bond prediction

March's bond issuance was the second lowest since the early 2000s
Ben Lane
In order to pass $500 billion in purchase volume, BofA suggests that a mix of lower mortgage rates, higher affordability and easier lending standards would be required. “None of which appears forthcoming in the near term,” the bank's analysts state.
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Global investors taking risk from Freddie Mac

Risk-sharing bond transactions gain attention
Jacob Gaffney
"Our goal is to have regular, consistent issuances at least quarterly," said Donna Corley, senior vice president of single-family pricing, risk transfer and securitization for Freddie Mac. And this goal is now more of a possibility given the reinsurer appetite to support Freddie Mac.
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