RMBS

The fiscal cliff being faced by our government at the end of the year is probably the most chilling macro-economic risk, ABS East panelists said.

Fannie Mae president and CEO Timothy Mayopoulos said the GSE recognizes the outsized role it is playing in the mortgage market but is working on trying to attract more private capital to the business, he told attendees at the Mortgage Bankers Association’s annual convention in Chicago today.

Lender Processing Services said today it has added two supplemental data modules to enhance McDash, its loan-level database.

Speakers at one panel of Information Management Network’s ABS East conference think the industry will come around to this field’s potential of socially responsible investing.

Nearly a half decade after the start of the mortgage crisis, portions of borrower vetting for securitized mortgages are still being done primarily by loan originators. This causes a potential risk management gap, particularly for non-Fannie Mae and Freddie Mac-backed mortgages that are bundled and sold as mortgage-backed securities.

Regulators are moving forward with proposals to apply the corporate bond transparency system known as TRACE (Transaction Reporting And Compliance Engine) to the entire MBS and ABS markets,according to Saber Partners.

The Royal Bank of Scotland said in a report today that the Spanish financial entity established to take over risky loans, but not RMBS, will begin operations on Nov. 19, under the name of Sareb.

ABS East 2012, organized by Information Management Network (IMN), is on track to be a little bigger and more upbeat than last year’s conference.

Springleaf Financial is planning a RMBS structured with one senior note, four mezzanine notes, two subordinate notes, one residual note, and one trust certificate, according to a Standard & Poor's presale report.