Buy and Sell Mortgage Backed Securities
Leveraging our sophisticated auction platform, deep buyer base and market data, SecondMarket centralizes price discovery and trading in a wide variety of CMBS and RMBS backed by prime, jumbo, subprime, alt-A, option ARMs and home equity loans.- Access to market color via our online trading platform and accessible team of market specialists
- No heavy lifting for buyers, sellers or companies - comprehensive support from listing through settlement
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Market News
Sep 2 2010
NCUA: Private Label MBS Concentrations Killed WesCorp — www.cutimes.com
- Increasing concentrations of non-agency MBS drove Western Corporate FCU to failure, NCUA said in its amended complaint against former directors and officers Tuesday in U.S. District Court
- In 2002, Wes Corp’s investment concentration policy restricted private label MBS to 950% of capital – that limit was raised to 1700% of capital in 2003 and 2150% of capital in 2005, reaching a high of 2300% in December 2007, the agency detailed
- NCUA seeks more than $1 billion in damages from officer and director defendants, accusing them of breach of fiduciary duties and gross negligence
Sep 2 2010
Mortgage Picture Brightens, for Now — online.wsj.com
- The number of newly distressed borrowers increased, raising the prospect that foreclosures and delinquencies could resume their rise.
- 14.4% of borrowers had missed at least one payment or were in foreclosure at the end of June
- While the mortgage crisis was driven at first by adjustable-rate mortgages that reset to higher payments, the majority of deteriorating loans are now being driven by unemployment.
- This month the administration announced a new round of $3 billion in funding for state initiatives that will offer bridge loans to help jobless homeowners make their mortgage payments
Sep 2 2010
30-Year Fixed Mortgage at 4.36% — online.wsj.com
- The prolonged rally in the treasury market has prompted lower yields on debt
- The 30-year fixed-rate mortgage averaged 4.36% for the week ended Thursday
- It sits at its lowest point since Freddie began tracking it in 1971 and has set or remained at record-low levels for 10 straight weeks
