RMBS

While Republicans and Democrats largely agree that the government's Home Affordable Modification Program (HAMP) is a failure, the two sides disagree sharply on what to do about it.

Panelists at ASF 2011 looked at the business implications of securitization policy reforms given that there are supposedly over 200 rulemakings and over 19 provisions associated with securitization in the Dodd-Frank Act.

With the administration supposedly set to come out with its GSE reform package on Friday, panelists at ASF 2011 held in Orlando this week were hopeful that the government will offer at least some short-term alternatives to reduce its involvement in the MBS sector, even if an actual proposal is not forthcoming.

A panel at ASF 2011, which is being held in Orlando this week, discussed the implications of the legislative mandate under 939A of the Dodd-Frank Act to reduce reliance on credit ratings. Panelists also explored potential alternatives to credit ratings.

ABS issuance will be slightly north of last year’s, according to panelists in today’s 2011 market outlook panel at ASF 2011. The conference is being held in Orlando this week.

There have been shifts in consumer behavior seen through credit scores, according to panelists at an ASF 2011 panel yesterday called Consumer Credit Metrics and Evaluation. The conference is being held this week in Orlando.

NPL buyer Kondaur Capital Corp. introduced its new subsidiary called DKR Collateral Dynamics (DCD), a third-party service that offers a full-range of collateral review ensuring that in "analyzing a note or security instrument all the missing links in the chain of ownership are filled," according to Kondaur Chairman Jon Daurio.

Bank of America Corp. has established a new unit to deal with its mortgage-related headaches.

They've been called "braindead," "negligent," and "otiose." But some trustees of mortgage-backed securities are proving useful to investors after all in repurchase fights.

Barclays Capital is currently marketing the first whole business securitization since the financial crisis.