Investors should continue buying mortgage bonds tied to U.S. home loans because they are unlikely to suffer a wave of refinancings that would cut yields, according to JPMorgan Chase & Co.
Congressional action would be required to trigger any significant “government-sponsored refi wave” in the market for bonds owned or guaranteed by mortgage financiers Fannie Mae [...]
Posts Tagged ‘mortgage bonds’
Only Congress Can Spark `Nuclear’ Mortgage Refinancing Wave, JPMorgan Says
August 31st, 2010 by Mortgage Writer
Tags: fannie mae, Freddie Mac, home loans, homebuying, interest rates, jpmorgan, mortgage bonds, mortgage rates, private mortgage
more...Mortgage Bonds Pare Relative Declines Amid Worst Trading Month Since 2008
August 15th, 2010 by Mortgage Writer
Fannie Mae and Freddie Mac mortgage bonds pared losses relative to Treasuries with the market for government-backed home-loan debt heading for its worst month since 2008 at the height of the global financial crisis.
Fannie Mae’s 30-year fixed-rate mortgage securities with 4.5 percent coupons rose 0.08 cent on the dollar in comparison with U.S. government notes [...]
Tags: fannie mae, financial crisis, Freddie Mac, home prices, homeowners, interest rates, mortgage bonds, mortgage market, mortgage securities
Fannie Mortgage Bonds Drop Most Since February on Refinancing
August 13th, 2010 by Mortgage Writer
Fannie Mae and Freddie Mac mortgage securities tumbled, with prices for certain debt declining the most relative to U.S. Treasuries over two days since February on concern that refinancing will accelerate after the Federal Reserve said it would buy more government notes.
Fannie Mae’s 30-year fixed-rate securities with 6 percent coupons fell 0.25 cent on the [...]
Tags: borrowers, fannie mae, federal reserve, financial market, foreclosures, Freddie Mac, home loans, housing market, mortgage bonds, mortgage securities
Bond Sellers Join With Mortgage Investors to Seek Tougher Rules
August 7th, 2010 by Mortgage Writer
Creators and underwriters of asset- backed securities joined bond investors in telling the Securities and Exchange Commission to go further than proposed new rules on sellers’ obligations to take back bad mortgages from future securitizations.
“Our membership felt the SEC proposal didn’t address the real problem,” Chris Killian, vice president of the Securities Industry and Financial [...]
Tags: bad credit, federal reserve, financial crisis, financial system, mortgage bonds, mortgage investors, wall street
Mortgage Bond Market Rocked By Prepayment Fears
August 6th, 2010 by Mortgage Writer
Agency mortgage securities were sharply lower Thursday as rattled investors sold amid speculation the government would press Fannie Mae (FNMA) and Freddie Mac (FMCC) to refinance home loans to reduce principal balances–speculation Washington officials quickly denied.
The price on a Fannie Mae 30-year bond with a 6% coupon, for example, fell as low as 108-16 from [...]
Tags: credit crisis, fannie mae, Freddie Mac, home loans, interest rates, investors, mortgage bonds, mortgage repayments, mortgage securities
FDIC to Sell $409 Million in Mortgage Bonds
July 24th, 2010 by Mortgage Writer
The Federal Deposit Insurance Corp. is tapping the securitization market to rid itself of assets from failed banks.
This time, the regulator will sell $409 million of mortgage bonds originated or acquired by 17 failed financial institutions.
The residential mortgage bond, called FDIC 2010-R1, will be wrapped by an FDIC guarantee, which is backed by the full [...]
Tags: home loans, housing market, interest rates, mortgage bonds, mortgage lenders, mortgage loans, mortgage payments, mortgage securities, US Economy
Fannie Mae Subpoenas May Find $30 Billion of Bad Mortgages, Analyst Says
July 21st, 2010 by Mortgage Writer
Fannie Mae and Freddie Mac’s regulator may identify as much as $30 billion of debt included in mortgage bonds that the companies can force sellers to repurchase, according to Joshua Rosner, an analyst who in 2007 predicted the collapse in the market for the securities.
The Federal Housing Finance Agency this month said it issued 64 [...]
Tags: bank of america, economists, fannie mae, Federal Housing, financial market, Freddie Mac, housing market, investors, loan, money, mortgage bonds, mortgage securities, subprime mortgages, tax credit, treasurys, wall street
Mortgage-Bond Yield Spreads Approach Lowest Level on Record
July 14th, 2010 by Mortgage Writer
Fannie Mae’s current-coupon 30-year fixed-rate mortgage bonds narrowed 0.03 percentage point to about 0.65 percentage point more than 10-year Treasuries as of 4:45 p.m. in New York, according to data compiled by Bloomberg. The gap reached 0.59 percentage point on March 29, two days before the Federal Reserve ended its buying of $1.25 trillion of [...]
Tags: borrowers, central bank's, fannie mae, federal reserve, home loans, jpmorgan, Mortgage Bankers Association, mortgage bonds, mortgage market, mortgage securities, tax credit
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