Posted To: Voice of Housing

It may have been a government holiday, but Veteran’s Day this year was a working day for financial services officials in Washington. Senate Banking Committee chairman Christopher Dodd released his financial reform bill late Tuesday evening. Instead of spending down time with friends and family, industry types occupied their day devouring the details of the 1,000-page proposal. There’s a lot to digest in Dodd's Discussion Draft: Restoring American Financial Stability One of the tidbits we have found interesting so far is Section 1503, which requires the Securities and Exchange Commission to adopt regulations "requiring each issuer of an asset-backed security to disclose, for each tranche or class of security, information regarding the assets backing that security.”…(read more)

Posted To: MBS Commentary

Hopefully you caught that yesterday, although I know even I don't always make it to the bottom of my closing commentary (reading OR writing), so I thought another mention might be felicitous. Although bond markets are closed, stock and stock futures are open, as well as some lenders. Some lenders even put out different pricing on such days. With that in mind, please use the comments to let us know what you're seeing. We would be keeping track ourselves, but the glare on the laptop screen is really intense with the reflection from the Caribbean… Ok, so we're not taking a vacation either today. But the rest of the day should prove commentary free on our end UNLESS something interesting happens, which it always might. If so, it might behoove you to check back in periodically for…(read more)