Overuse of GSE tools in the private-label market adds risk: Moody’s

Overuse of GSE tools in the private-label market adds risk: Moody’s. Being too dependent on the automated underwriting tools created by the government-sponsored enterprises to originate loans underlying private-label mortgage-backed securitizations could negatively affect their credit quality, a.

sell all noncatastrophic credit risk to the private market. In our proposal, the government corporation would retain the af -. true that the private-label securities market chased the GSEs in loos-ening credit standards, for instance, we would have seen the GSEs’. A More Promising Road to GSE Reform: Access and Affordability

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It began in 2007 with a crisis in the subprime mortgage market in the United States, and developed into a full-blown international banking crisis with the collapse. Existing-home sales in the South decreased 2.2 percent to an annual rate of 2.25 million in June, but are still 0.4 percent higher than a year ago.

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Overuse of GSE Tools in the Private-Label Market Adds Risk: Moody’s National Mortgage News, Feb. 26, 2019–Brad Finkelstein (subscription) Being too dependent on the automated underwriting tools created by the government-sponsored enterprises to originate loans underlying private-label mortgage-backed securitizations could negatively affect their credit quality, Moody’s said.

And while on average GSE-eligible loans have weaker credit characteristics than prime jumbo loans, the credit characteristics of the gse-eligible loans included in private-label RMBS are more akin to those of prime jumbo loans, with higher credit scores, lower loan-to-value ratios and fewer cash-out refinancings.

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If there is a panic in the market for the securities of the troubled GSE, it could exacerbate liquidity problems at many banks and thrifts, which hold a high level of MBS in their capital base. These problems could, in turn, increase the risk of contagious illiquidity spreading through the banking system, the financial sector and even the.

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On March 27, 2015 Judge John Robert Blakely of the U.S. District Court for the Northern District of Illinois granted Standard & Poor’s Financial Services, LLC’s and Moody’s Investors Service, Inc.’s motion to dismiss claims brought by First National Bank and Trust Co. of Rochelle, Illinois arising out of First National’s purchase of certain RMBS certificates.