Posted To: MND NewsWire
Is the mortgage-backed security (MBS) based on jumbo mortgage loans back on life-support? Sam Khater, CoreLogic's deputy chief economist, says it appears to be. In an analysis published in the company's Insights blog, Khater says that nearly a decade after the crash the private-label securities (PLS) market of which jumbos are a part still doesn't even have an upside. When the overall market hit the skids "jumbos had the misfortune to be a nonconforming product when subprime made nonconforming a dirty word," Khater says. "Many jumbo securities were prime credits, but that didn't save them. The sector has spent most of the last ten years trying to re-establish a steady market. And just when it seemed that the market was gaining traction, economics, low interest rates and compliance all turned...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/1LXgzIg
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