Podcasts about mortgage backed securities

Watch The X22 Report On Video No videos found Click On Picture To See Larger Picture The [CB]/[WEF] are struggling with their agenda, it's falling apart right in front of their eyes, they will give it another push but it will fail. The economy is continuing to fail, Trump is making moves to shift it around. Trump warns the world, you stop accepting the dollar, tariffs are coming. The [DS] is now panicking, there is real panic in DC. Trump is putting the team together and the latest team member is Kash Patel. Kash just stepped into the light as the FBI director. Kash will now pursue justice and will follow the rule of law. Declas coming, get the popcorn and enjoy the show.   (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); Economy https://twitter.com/SteveGuest/status/1862509325417128246 https://twitter.com/KobeissiLetter/status/1862966829695775075   2008. In previous economic cycles, prolonged declines in this metric were followed by a decline residential construction employment. This data suggests that housing construction employment may shrink by 10%+ year-over-year. US labor market continues to see pockets of weakness. https://twitter.com/KobeissiLetter/status/1862925301724155907   last 2 years. This comes as the Fed has been paying hundreds of billions in interest to banks and money market funds. At the same time, income the Fed has earned on Treasuries and Mortgage-Backed-Securities has declined. Even the Fed is losing money. https://twitter.com/KanekoaTheGreat/status/1862918153229222249   Treasury Department regarding the Biden family, alleging their involvement in money laundering, human trafficking, and tax fraud. The banks also flagged wire transfers sent to the Bidens from foreign state-owned entities, raising concerns about money laundering and tax evasion. Investigations revealed that these foreign funds were funneled through 20 shell companies associated with Biden business partners before being distributed to nine Biden family members, including grandchildren. Despite this, to my knowledge, not a single member of the Biden family has been debanked. For ordinary Americans, even a few SARs would likely result in debanking. Additionally, none of the Bidens registered under the Foreign Agent Registration Act (FARA), as would typically be required in such circumstances. Meanwhile, hundreds of cryptocurrency entrepreneurs and Trump supporters—including Melania and Barron Trump—have been debanked. Just as the establishment weaponizes the U.S. dollar against foreign adversaries, it uses debanking as a weapon against its domestic opponents.   laundering, human trafficking, and tax fraud, according to congressional investigators. Tariffs are coming, but Congress can stop them  When Trump says he will release an executive order on day one of his second term, he is referring specifically to those delegated authorities. Congress still has time to take those authorities back and avoid a potential trade war. Last week, Reps. Suzan DelBene (D-Wash.) and Don Beyer (D-Va.) introduced the Prevent Tariff Abuse Act, which would curtail the president's ability to use a law called the International Emergency Economic Powers Act to enact tariffs and quotas on other countries. That is a good start, but there's still more that Congress can do. Trade analysts have laid out a much broader list of tariff authorities that could be abused by Trump and Congress should act quickly to repeal or reform them. Source: thehill.com  With the Dollar Strengthening, and With Easily Predictable Economic Outcomes Looming, President Trump Targets BRICS

DJ Tierney discusses diversifying fixed income strategies, with Charles Schwab launching a mortgage-backed securities ETF this week. He compares the ETF to bond ETFs and talks about giving customers new access to a more bespoke market. He thinks ETFs will continue to take market share from mutual funds in the fixed income space. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

I am super excited that Nov 1st thru the 3rd Age of Radio will have a booth at uWu Con! It is an anime, comic, and cosplay conference located in Scottsdale, AZ. Get Your Tickets Here => https://uwucon.com/Not only will Age of Radio be represented there, but so will the Geek Collective and Cos Talk Live. I will also be talking on Friday Nov 1st at 1:00 PM In Vault 3 on Why Everyone Should Have A Podcast! So, that is what I am going to share with you today. Why, if your thinking of starting a Podcast..... You Should!.... Because... Everyone Should Have A Podcast! In this episode I also touch on Mortgage Backed Securities, Threads, and the Trump Rally! Enjoy! Join the Age of Radio Discord | https://discord.gg/EeamD8WcjN Follow me on Goodpods https://goodpods.app.link/usUyBZzhuNb Free Financial Consultation: https://forms.gle/B6nNZ2FbxbhESCHg9 Red Wizard Gaming Society: https://discord.gg/9D43EszdUB This Weeks Links: Real Estate Will Ruin Us... Again! | https://www.bloomberg.com/news/features/2024-10-28/commercial-real-estate-crisis-hits-aaa-rated-bonds-tied-to-office-buildings?srnd=homepage-americas DM if you are interested in Life Insurance! If you or someone you know has been struggling or in crisis please call or text 988 or chat 988lifeline.org

Today's podcast is sponsored by Candor. Candor's authentic Expert System AI has powered more than 2 million flawless, hands off underwrites. Every credit risk decision Candor makes is backed by a Warranty, eliminating repurchase worries.

This episode is a treasure trove of insights for any real estate professional grappling with today's volatile market. From mortgage rate predictions to essential legal updates, find out what every realtor in Texas should be watching. Are you prepared for the changes on the horizon?In this episode, Mortgage Rate Insights take center stage as we analyze their influence on the Texas real estate sector. Mike Mills provides a thorough update on interest rates, discusses the implications of new housing laws, and breaks down market trends in Dallas-Fort Worth. Essential listening for real estate professionals looking to stay ahead of the curve.Key TakeawaysUnderstanding Mortgage Rate TrendsThis episode provides detailed Mortgage Rate Insights, emphasizing how the Federal Reserve's actions might not directly lead to lower interest rates but could stabilize the market. Mike discusses how these rates influence buyer and seller behavior in North Texas, crucial for realtors to understand in strategizing their client consultations.Legal Updates in Real EstateSignificant legal developments impacting the real estate industry are covered, including the latest on the Sitz-Burnett case. Mike explains the potential effects of these legal changes on realtors and lenders, emphasizing the need for professionals to stay informed to navigate these shifts effectively.Market Dynamics and PredictionsInsights into current housing trends and future predictions for North Texas offer listeners a comprehensive look at what to expect in the market. The discussion includes inventory levels, pricing trends, and how these factors are likely to affect the real estate landscape in the coming months.Impact of Mortgage-Backed Securities on RatesMike discusses the significant role that mortgage-backed securities play in determining mortgage rates. He explains how the Federal Reserve's buying and selling of these securities affects the availability and cost of mortgages, offering crucial insights for real estate professionals on how macroeconomic policies influence the housing market.The Emerging Role of Homes.com and Market CompetitionThe episode highlights the strategic moves by Homes.com, particularly how it's positioning itself in the competitive landscape against giants like Zillow. Mike delves into the potential implications for local MLS systems and how these changes could reshape the referral and listing dynamics for real estate professionals across the nation.Time Stamped Summary(0:08 - 0:44) Introduction to the episode: Host Mike Mills discusses his role as a mortgage banker and how the podcast serves as a platform for sharing insights into the Texas real estate market.(0:44 - 0:53) Invitation for partnerships: Mike offers his expertise in helping real estate professionals grow their business and enhance their client experiences.(0:53 - 2:54) Discussion on current mortgage rates and their implications, including a hint that the Fed might be helping rates in an unconventional way. Mike also touches on housing trends and legal updates relevant to real estate professionals.(2:55 - 4:57) Analysis of national economic indicators such as inflation and unemployment and their impact on mortgage rates. Mike elaborates on why rates are still high despite previous forecasts.(4:57 - 8:10) Examination of job market trends, with a focus on inconsistencies in jobless claims and the growing number of part-time jobs versus full-time employment.(8:10 - 9:44) Predictions on how upcoming corporate earnings reports could influence the job market and, subsequently, real estate dynamics.(9:44 - 10:49) Insights into the Federal Reserve's strategies on mortgage-backed securities and predictions on how these will affect mortgage rates going...

[Housing Wire] U.S. Senator calls for more oversight of HECM mortgage-backed securities program. [RMI] Reverse Market Insight's Market Minute with Jon McCue.. [Journal Courier] Is downsizing worth it in retirement? Watch our video podcast here!

The Canadian federal government will, through the Bank of Canada as agent, purchase $3.75 billion of 10-year duration Canadian Mortgage Bonds (CMBs) in a syndicated transaction. What are CMB's ( Canadian Mortgage Bonds) and MBS's (Mortgage Backed Securities) ? How the government plans on using these bonds  Foreign capital leaves Canada and we are almost at 41 million people  If you have any questions for the show or want to work with Nick and Dan please reach out to them on social media or send an email to tcreipodcast@gmail.com Join the 5 Day Challenge - The Hunt For The Best Investment Property In The Country  View & analyze hundreds of deals Underwrite & model investments  Determine if a bank will lend on a deal  Sign up for the  Newsletter Meetups  Meetups Merch  merch Get a Pre Approval G & H Mortgage Group Work with Landbank LandBank Nick  Instagram.com/mybuddynick tiktok.com/@mybuddynick twitter.com/mybuddynick89 Dan twitter.com/daniel_foch  instagram.com/danielfoch tiktok.com/@danielfochSee omnystudio.com/listener for privacy information.

Harley Bassman, managing partner at Simplify Asset Management, discusses his macro view of the economy and markets. He believes that the market is ahead of the Fed and that inflation will not come down as quickly as people think due to demographic factors. Bassman also discusses the yield curve and its implications for a recession. He recommends investing in mortgage-backed securities due to their attractive risk-return profile. Finally, Bassman, the "Convexity Maven," explains convexity and its importance in bond investing. Links: Twitter/X: https://twitter.com/convexitymaven Convexity Maven: https://www.convexitymaven.com/ Simplify Asset Management: https://www.simplify.us/ Timestamps: 00:00 Introduction and macro view 03:03 Inflation and Fed Policy 05:01 Inflation expectations 07:26 Yield Curve and recession 10:06 Trade Opportunities in bonds 14:47 Mortgage-Backed Securities and convexity 19:55 Rate expectations and mortgage bond trade 20:15 Understanding convexity 25:55 Wrap up

Jason Ballard is an Elite Performance Coach and Business Consultant.  He founded Primetime Elevation to empower individuals and organizations to become more efficient, energized, and productive.  Before starting his company, he worked on Wall Street for 17 years on a Mortgage-Backed Securities trading desk for AK Capital LLC.  He hold a Master of Science in Finance from Florida International University and a Bachelors of Business Administration in Finance from the University of Miami where he was Track and Field athlete. Quote: “If you are productive for just 9 more minutes a day, 5 days a week, that is one more week a year of productivity” - Jason BallardKnowledge Nuggets and Take-Aways:All successful people are abnormal and learn to separate themselves from the pack.Formula = Vision, plan and EXECUTE!Plan for your tomorrow - it's in the detailsGreat performers are productive and make better use of their timeWork to be better at establishing relationships, look to serve them and people will reciprocateCompound your days, make the most out of every day and move your needleGet very detail oriented to work to bridge your performance gapA great coach listens deeply, with his neckAsk your coach what unique template are we going to set up to help me reach my ultimate human potentialJason's gift of caring and pouring into people and watching them grow is above reproach! Here is a link to this episode on Time To Shine Today Site:  https://timetoshinetoday.com/podcast/jasonballard/ Recommended Resources:  Visit Prime Time ElevationPick Up Jason's Book: GAME PLAN: Conquer The 24Jason's Linked INJason's FacebookJason's Instagram

Thanks to today's podcast sponsor, LoanCare. LoanCare has successfully navigated clients and homeowners through market change for 40 years. The mortgage subservicer is known for delivering superior customer experience through personalization and convenience. Its award-winning portfolio management tool, LoanCare Analytics™, supports MSR investors with a focus on customer engagement, liquidity, and credit risk. LoanCare is part of Fidelity National Financial, a Fortune 500 company and leading provider of services to real estate and mortgage industries.

What you're about to listen to is a conversation with Jeremy Siegel, distinguished professor of economics at Wharton, Jeremy Schwartz, CIO of WisdomTree, and Dave Goodson, head of securitized products at Voya Financial, and Jack Farley, who was a guest on this episode of the “Behind The Markets” podcast. The first part of this discussion features Professor Siegel's macro view on bonds, stocks, and the economy, and the second part of the conversation is devoted to Dave Goodson's in-depth analysis of the world of securitized products, such as agency MBS, non-agency MBS, commercial MBS, and collateralized loan obligations (CLOs). Original episode of “Behind The Markets”: https://podcasts.apple.com/us/podcast/behind-the-markets-podcast-jack-farley-dave-goodson/id1194707802?i=1000632103956 __ Follow Jeremy Schwartz on Twitter https://twitter.com/JeremyDSchwartz Follow WisdomTree on Twitter https://twitter.com/WisdomTreeFunds Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Timestamps: (00:000 Introduction (01:06) Professor Jeremy Siegel on "Higher For Longer" And His Outlook On Stock Market (08:42) Jack's Question For Professor Siegel (09:07) Professor Jeremy Siegel on "Higher For Longer" And His Outlook On Stock Market (10:51) Dave Goodson On Bond Market (15:42) Does The Historic Cheapness of Agency mortgage-Backed Securities (MBS) Indicate Bank Funding Stress? (21:41) Opportunities in Non-Agency Structured Products (23:24) Dave Goodson On Non-Agency Commercial Mortgage-Backed Securities (CMBS) (31:57) Is The Risk In Collateralized Loan Obligations (CLOs) Not Fully Priced? (40:11) Private Credit CLOs __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Welcome to the latest episode of the Capitalist Investor podcast, where Tony, Luke, and Derek discussed some fascinating insights into the investment landscape! Today, we tried something different where we talked about five hot topics in five minutes each. Those topics include Bitcoin, Mortgage Backed Securities, Cash, Auto Loans, & U.S. Treasuries.Here are three key takeaways from this episode:  1️⃣ Move beyond traditional investments: Luke, Tony, & Derek explored three alternative ways to invest your money - treasuries, CDs, and lending through the bank. Treasuries, in particular, caught their attention as a low default rate option, but with varying durations from three months up to 30 years.  2️⃣ The Federal Reserve may have lost control: Despite the Federal Reserve not raising rates, yields increased by 1% over a month and a half. This surprising development suggests that the free markets are now pricing in the increasing and decreasing rates, highlighting factors like geopolitical conflicts, economic risks, and inflationary concerns. Prepare for potential significant and rapid movements in either direction.  3️⃣ Big changes in the housing market and beyond: The episode delved into the impact of various factors on the housing market, including the potential entry of Airbnb properties, risk-off periods, and high interest rates.  Tune in to the latest episode of the Capitalist Investor podcast to gain valuable insights and stay updated on the ever-changing investment landscape.

The purpose of this episode is to explain the brief history of mortgage-backed securities; what they are; how they are structured; when were they created; and the crucial role they played in the financial crisis of 2008. Mortgage Backed-Securities (MBS) are a type of asset-backed security, which is secured by a collection of mortgages. And these pooled mortgages are sold to investors as a securirty. These MBSs are structured as financial instrument either as pass-through securities or Collateralized Mortgage Obligations, also known as CMOs. The first MBS was created by the federal government to through an agency called GNMA (Ginnie Mae) to provide a secondary market for mortgages. In the 70s and 80s, the federal government went on to issue pass-through MBS and in the 80s, the MBS market expanded to private-label MBS. MBS played a crucial role in engineering the financial crisis of 2008. Investments banks such as Lehman Brothers packaged subprime mortgages with prime mortgages as CMOs and sold those CMOS to investors. Since the number of subprime mortgages outweighed the number of prime mortgages, these CMOs eventually became worthless, and the housing bubble burst.

Today's guest, Suraj Jagannathan, has served as a Strategic Partner at Trinity Investors since 2019. He is a 13-year veteran of Wall Street, trading institutional Mortgage-Backed Securities. He spent 8 years as a Vice President at Southwest/Hilltop Securities, then another 5 years as Managing Director at a boutique broker-dealer in New York. To hear more about Suraj and their story, please make sure to tune into this week's episode of The Road to Financial Freedom.FREE TOOLKIThttps://camaplan.typeform.com/freetoolkitFor more information on Suraj Jagannathan:Website: https://www.trinityinvestors.com/surajFor more information on CamaPlan:https://www.camaplan.com/Call the number below during business hours (8:30 AM - 5 PM EST) to schedule a phone consultation with CamaPlan:Phone: (215) 283-2868 Toll Free: (866) 559-4430.Follow our Podcast to stay up to date with upcoming guests, and other relevant topics:Website: https://www.RoadtoFinancialFreedomPodcast.com Facebook: https://www.facebook.com/CamaPlanPodcast/Instagram: @TheRoadtoFinancialFreedomPodLinkPage: https://linkpages.pro/EclTdARemember to like, follow, and share on your favorite podcasting platform!CamaPlan SDIRA, LLCCamaPlan, a self-directed IRA administrator, makes alternative investing a breeze for clients.The Road to Financial Freedom is Social! Check us out on Facebook & Instagram!!

Spreads of mortgage-backed securities may remain wide, though net and gross supply could remain depressed given interest rate and housing market dynamics, Bloomberg Intelligence's Chief MBS Strategist Erica Adelberg says. Adelberg joins Macro Matters podcast host and BI's Chief US Interest Rate Strategist Ira Jersey to share her view on relative value within the mortgage markets, compare MBS to corporate bonds and discuss how recent bank regulations may affect mortgage demand. You can access more of Adelberg's research on the BI Mortgages Dashboard by typing {BI MORTN }.

Some sectors of the commercial real estate market have been significantly affected by sharply higher interest rates. • Learn more at thriventfunds.com • Follow us on LinkedIn • Share feedback and questions with us at podcast@thriventfunds.com • Thrivent Distributors, LLC is a member of FINRA/SIPC and a subsidiary of Thrivent, the marketing name for Thrivent Financial for Lutherans.

Hello everyone, it's Bill Thompson – T Bill. Some of the things covered on today's session include:   Mortgage-backed securities, GNMA, FNMA, and Freddie Mac compared and explained.   Overstock up big after winning auction for Bed, Bath, & Beyond's name and digital assets.   Real earnings up for the first time in over two years.   Next week's economic reports.

Peter Stella is the former head of the IMF's Central Banking Division and has researched and written extensively on safe assets, collateral, and central bank operations. He now hosts the website, Central Banking Archaeology and continues to consult with the IMF on central bank balance sheet issues. Peter is also a returning guest to the podcast, and he rejoins Macro Musings to talk about the quasi-fiscal implications of central bank crisis intervention over the past few years. David and Peter also discuss the losses on the Fed's balance sheet, using market value versus the par value of debt, the Fed's debt management issues with mortgage backed securities, and more.   Transcript for this week's episode.   Peter's Twitter: @Stellar_Consult Peter's website   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Join the Macro Musings mailing list! Check out our new Macro Musings merch!   Related Links:   *Quasi-Fiscal Implications of Central Bank Crisis Interventions: Case Studies* by Peter Stella, John Hooley, and Claney Lattie   *Do Central Banks Need Capital?* by Peter Stella   *Exiting Well* by Peter Stella

Tom welcomes back David Kranzler of Investment Research Dynamics to the show. David discusses how companies often reframe their results to be more "socially acceptable". During the tech bubble the game of earnings management evolved; analyst's influence drove the consensus estimates down and then, when the company beat the estimates, it painted a manipulated picture of their financial standing. David explains the effect that higher rates have on the housing sector; many households are already overstretched and not prepared to pay for house payments when interest rates increase. We are beginning to return to the liar loan phase which helped cause the 2008 housing crisis with Mortgage-Backed Securities. Similarly, auto loans are also being bundled with both prime quality and riskier loans being sold to investors. The financial system is dependent on continued growth of the money supply, which drives it. However, if the increase is pulled back too quickly, the entire system can collapse, which will eventually happen. Lastly, David urges people to ignore mainstream media and do their own research. Time Stamp References:0:00 - Introduction0:40 - Reframing Results10:31 - Rates & Housing Impacts18:45 - Lending Shenanigans24:49 - Banking Crises & Rates29:44 - Inflation Themes & M244:50 - Gold & Monetary Systems49:22 - Confidence in Miners?56:33 - Mining Risk & Returns57:45 - Gold & Rising Tides1:00:00 - Putting a Pin In It Talking Points From This Episode Factors driving the debt cycle globally.Why we're in a dangerous period with housing and auto loans .Risks around earnings and company financials statements. Guest Links:Twitter: https://twitter.com/InvResDynamicsWebsite: https://investmentresearchdynamics.comNewsletter: https://investmentresearchdynamics.com/mining-stock-journal David Kranzler spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, he traded junk bonds for Bankers Trust. Dave earned a master's degree in business administration from the University of Chicago, concentrating on accounting and finance. He writes a blog to help people understand and analyze what is going on in our financial system and economy.

Catch up on the latest updates in the CMBS market and May's Fed meeting in this recent podcast with Senior Portfolio Specialist Douglas Gimple. Bloomberg US Financial Institutions Index measures the performance of the financial institutions sector of the Bloomberg US Aggregate Bond Index. Bloomberg US Aggregate Bond Index measures the performance of investment grade, fixed-rate taxable bond market and includes government and corporate bonds, agency mortgage-backed, asset-backed and commercial mortgage-backed securities (agency and non-agency). Bloomberg US CMBS Investment Grade Index measures the market of US agency and US non-agency conduit and fusion CMBS. The indexes are unmanaged, include net reinvested dividends, do not reflect fees or expenses (which would lower the return) and are not available for direct investment. Index data source: Bloomberg Index Services Limited. See diamond-hill.com/disclosures for full disclaimers. As of 28 February 2023, Diamond Hill owned debt in Huntington Bancshares Inc., Citizens Bank NA, JPMorgan Chase & Co., Apple Inc., Amazon.com Inc. and Walmart Inc. The views expressed are those of the speakers as of May 2023 and are subject to change without notice. These opinions are not intended to be a forecast of future events, a guarantee of future results or investment advice. Investing involves risk, including the possible loss of principal. Past performance is not a guarantee of future results.

This week we're going back to 2007 with The Big Short! Join us as we learn about bespoke tranche opportunities, various hedge fund guys, Sofia's predictions for what Millennial side hustles will look like when none of us are retired in 50 years, and more! Sources: Jack Schwager, Hedge Fund Market Wizards: How Winning Traders Win. Wiley, 2012 Indiewire interview with Adam McKay: https://www.indiewire.com/2015/12/interview-adam-mckay-talks-the-big-short-making-a-bourne-style-financial-drama-angering-judd-apatow-more-100043/ John Szramiakje, "Here's the Story of One of the Heroes of the Big Short," Insider, available at https://www.businessinsider.com/michael-burry-life-story-2017-5 Johnny Brayson, "Where the Big Short's Michael Burry Is Today," Bustle, available at https://www.bustle.com/articles/133631-what-is-michael-burry-doing-today-the-big-short-character-is-still-weary-of-the-financial Reed Stevenson and Bloomberg, "Criminally Unjust: Big Short Investor Who Called Subprime Mortgage Collapse Slams Coronavirus Lockdowns," Fortune, available at https://fortune.com/2020/04/07/big-short-michael-burry-subprime-mortgage-coronavirus-lockdowns/ Flaxman et al, "Estimating the Effects of Non-Pharmaceutical Interventions on COVID-19 in Europe," Nature, available at https://www.nature.com/articles/s41586-020-2405-7 John J. McConnell and Stephen A. Buser, "The Origins and Evolution of the Market for Mortgage-Backed Securities," Annual Review of Financial Economics 3 (2011): 173-92, https://www.jstor.org/stable/42940424.  Neil Fligstein and Adam Goldstein, "The Roots of the Great Recession," in The Great Recession eds. David B. Grusky, Bruse Western, and Christopher Wimer (Russel Sage Foundation), https://www.jstor.org/stable/10.7758/9781610447508.6  Richard H. Sander, Yana A. Kucheva, and Jonathan M. Zasloff, "The Mortgage Crisis and the Great Recession," Moving toward Integration: The Past and Future of Fair Housing (Harvard University Press, 2018)., https://www.jstor.org/stable/j.ctv24trdcq.28  Donald Palmer and Michael W. Maher, "The mortgage meltdown as normal accidental wrongdoing," Strategic Organization 8, no.1 (2010): 83-91. https://www.jstor.org/stable/23728572   Robert J. Schiller, "Mortgage Lenders and Securitizers," Finance and the Good Society (Princeton University Press),  https://www.jstor.org/stable/j.ctt32bb86.11  John Divine, "What Is a Bespoke Tranche Opportunity?" U.S. News & World Report (16 August 2021), https://money.usnews.com/investing/stock-market-news/articles/what-is-a-bespoke-tranche-opportunity  Adam Uzialko, "The Return of CDOs: Is Another Economic Crisis on the Horizon?" Business News Daily (21 February 2023), https://www.businessnewsdaily.com/10353-cdo-financial-derivatives-economic-crisis.html  Erin Corbett, "Bespoke Tranche Opportunities Vs. CDOs," Bustle (30 March 2016), https://www.bustle.com/articles/150913-how-are-bespoke-tranche-opportunities-collateralized-debt-obligations-different-lets-break-it-down  Hillary E. Crawford, "The Danger of Bespoke Tranche Opportunities," Bustle (5 April 2016), https://www.bustle.com/articles/152086-are-bespoke-tranche-opportunities-dangerous-they-pose-a-risk-just-not-right-away  Christopher Whittall, "RPT-Banks, investors pile back into synthetic CDOs," (29 April 2019), https://www.reuters.com/article/idUSL5N22B5Q2  Christopher Whittall, "Synthetic CDO machine whirrs into gear again," (20 May 2022), https://www.ifre.com/story/3375562/synthetic-cdo-machine-whirrs-into-gear-again-ntzlc1mtzp 

Riteniamo che le recenti tensioni nel settore bancario abbiano reso ancora più interessanti le obbligazioni garantite da mutui ipotecari (MBS, Mortgage Backed Securities) emesse da agenzie federali statunitensi, più di quanto non lo fossero già.   Tratto da “Le prospettive settimanali del CIO” a cura di Ashok Bhatia, Deputy Chief Investment Officer—Fixed Income di Neuberger Berman.   Questi podcast includono commenti generali di mercato, contenuti formativi di carattere generale sugli investimenti e informazioni generali su Neuberger Berman. I podcast sono solo a scopo informativo e nulla qui presente costituisce una consulenza in materia di investimenti, legale, contabile o fiscale o una raccomandazione per l'acquisto, la vendita o la detenzione di un titolo. La presente comunicazione non è diretta a nessun investitore in particolare o categoria di investitori e non deve essere considerata come un consiglio di investimento o un suggerimento per intraprendere o astenersi da qualsiasi linea di condotta relativa agli investimenti. Le decisioni di investimento dovrebbero essere prese sulla base degli obiettivi e delle circostanze individuali di un investitore e in consulenza con i suoi consulenti. Le informazioni sono ottenute da fonti ritenute affidabili, ma non esiste alcuna dichiarazione o garanzia in merito alla loro accuratezza, completezza o affidabilità. Tutte le informazioni sono aggiornate alla data di registrazione dei podcast e sono soggette a modifiche senza preavviso. Eventuali opinioni o view qui espresse potrebbero non riflettere quelle della società nel suo complesso. Questo materiale può includere stime, prospettive, proiezioni e altre "dichiarazioni previsionali". A causa di una varietà di fattori, gli eventi effettivi o il comportamento del mercato possono differire in modo significativo dalle opinioni qui espresse. I prodotti e i servizi di Neuberger Berman potrebbero non essere disponibili in tutte le giurisdizioni o per tutti i tipi di clienti. La diversificazione non garantisce il profitto né protegge dalle perdite nei mercati in declino. Investire comporta dei rischi inclusa la possibile perdita del capitale. Gli investimenti in hedge fund e private equity sono speculativi, comportano un grado di rischio più elevato rispetto agli investimenti più tradizionali e sono destinati esclusivamente a investitori sofisticati. Gli indici non sono gestiti e non sono disponibili per l'investimento diretto. I rendimenti passati non sono un indicatore affidabile di rendimenti attuali o futuri.   Le opinioni espresse nel presente documento possono includere quelle del team Multi Asset Class di Neuberger Berman (MAC) e del Comicato di Asset Allocation (AAC) di Neuberger Berman. Le opinioni del team MAC e dell'AAC potrebbero non riflettere le opinioni della società nel suo complesso. Gli advisor e i gestori di portafoglio di Neuberger Berman potrebbero assumere posizioni contrarie alle view o opinioni del team MAC. Il team MAC e le opinioni della CAA non costituiscono una previsione di eventi futuri o comportamenti futuri del mercato.   Le discussioni su settori e aziende specifici sono solo a scopo informativo. Questo materiale non è inteso come un report di ricerca formale e non dovrebbe essere considerato come una base per prendere decisioni di investimento. La società, i suoi dipendenti e gli advisor possono detenere posizioni di qualsiasi società qui discussa. I titoli specifici identificati e descritti non rappresentano tutti i titoli acquistati, venduti o consigliati per i clienti nell'ambito dell'attività di consulenza. Non si deve presumere che gli investimenti in titoli, società, settori o mercati identificati e descritti siano stati o saranno redditizi. Qualsiasi discussione sui fattori e rating ambientali, sociali e di governance (ESG) è solo a scopo informativo e non deve essere considerata come base per prendere una decisione di investimento. I fattori ESG sono uno dei tanti fattori che possono essere considerati quando si prendono decisioni di investimento.     Il presente materiale viene pubblicato, fatte salve le restrizioni giurisdizionali, tramite varie controllate e affiliate globali di Neuberger Berman Group LLC. Per informazioni sulle entità specifiche e sulle limitazioni e restrizioni a livello giurisdizionale visitate il sito www.nb.com/disclosure-global-communications.   Il nome e il logo “Neuberger Berman” sono marchi di servizio registrati di Neuberger Berman Group LLC.   © 2023 Neuberger Berman Group LLC. Tutti i diritti riservati.

Hosts Edward and Jeffrey are joined by MetaProp Co-founder & GP Zach Aarons, and special guest Brad Hargreaves, Founder and Chairman at Common and contributor to Thesis Driven, to discuss Silicon Valley Bank's and Signature Bank's unraveling and it's potential implications on Proptech, commercial real estate and VC investing.(2:05) - SVB's fallout timeline(7:13) - Advise for Proptech founders & teams banking with SVB(11:27) - Impact to investor sentiment(13:42) - Feature: HAC - Housing Assistance Council, helping build homes & communities across rural America (learn more)(14:50) - How can companies handle SVB's covenants(19:10) - Fed's options & their impact on commercial real estate(23:30) - Bank runs in the era of social media(25:55) - Buying low-yield bonds and 4 cap CRE buyers(28:50) - Brad's experience at Common choosing between Triple Point & SVB(33:50) - Opportunities ahead(36:53) - How can Proptech deliver innovation & adoption growing forwardLearn more:

Securitization Insight Ep 37: The Impact of Higher Interest Rates on the Commercial Mortgage-Backed Securities (CMBS) MarketLonnie Hendry, senior vice president and head of commercial real estate and advisory servicesat Trepp, Inc., joins host Patrick Dolan to discuss the effect high interest rates have on the commercial mortgage-backed securities (CMBS) market. We examine the steady decline of rental rates and sublease levels and the significant increase of insurance, labor and maintenance costs among underutilized assets, and how these factors have led to market uncertainty.Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.

Karthik Narayanan, Head of Securitized for Guggenheim Investments, discusses the structure and value in the residential mortgage-backed securities market and other ABS sectors. Anne Walsh, Chief Investment Officer for Fixed Income, answers a listener question on liquidity. Jerry Cai, an economist in our Macroeconomic and Investment Research Group, brings the latest on the labor picture and an update on China.

I'd like to thank today's sponsor, Richey May. Recently named a Top 100 firm by Inside Public Accounting, Richey May is a recognized leader in providing specialized advisory, audit, tax, cybersecurity, technology, and other services to the mortgage industry. The firm has also consistently been recognized as one of the fastest growing firms in the country and has been named to the HousingWire Tech 100 in Mortgage, Accounting Today Firms to Watch, and the Fastest Growing Firms. The firm has also received multiple awards for Excellence in Firm Culture from Inside Public Accounting. To experience how Richey May can help you transform your mortgage business, visit richeymay.com.

In this episode, MUFG Head of Prepayment Modeling and Strategy Glenn Schultz discusses the October remittance data and outlines our thesis of the ‘Second Golden Age of Mortgage Backed Securities.' He reviews how the evolution of the coupon stack, borrower and loan characteristic diversity, and the normalization of interest rates converge to bring about the dawn of a second golden age for mortgages.  Disclaimer: www.mufgresearch.com (PDF)

AP correspondent Julie Walker reports on Credit Suisse Settlement

With the Fed hiking interest rates rapidly in order to fight inflation, cash is finally earning its highest yield since before the Great Financial Crisis. Peter Crane, President of Crane Data, and Joseph Wang, former senior trader for the Federal Reserve, join Jack to discuss how the growing attractiveness of cash might cause markets to “break” as investors pull capital out of risk assets and deploy it in cash and money market funds, which harvest yields on cash by investing them in ultra-short duration loans to extremely safe counterparties, primarily the U.S. government and the Federal Reserve. Filmed on September 22, 2022. -- Use code GUIDANCE250 to get $250 off tickets to Blockworks' London Digital Asset Summit: https://blockworks.co/events/digital-asset-summit-2022-london/ -- Follow Peter Crane on Twitter https://twitter.com/cranedata Follow Joseph Wang on Twitter https://twitter.com/FedGuy12 Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/ForwardGuidanceGet top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- (00:00) Introduction (02:10) Reflecting On the Fed's September FOMC Meeting (04:48) What Is A Money Market Fund? (14:37) What Will Break? (18:41) Maturity & Composition (25:31) Why Are There No Inflows Into Money Market Funds? (27:37) Quantitative Tightening (QT) (31:316) Who Invests In Money Market Funds? (39:19) Offshore Dollar Money Market Funds (43:03) New SEC Regulation on Money Market Funds ("Swing Pricing") (51:45) What Part of The Financial System Will Crack First? (1:05:12) How Bad Is Treasury Liquidity? (1:06:33) Pete Crane on Stablecoins (1:10:55) Joseph Wang On Sales of Mortgage-Backed Securities (1:12:16) Outro -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Listen in podcast app-Stocks in a typical retracement… will it hold?-Inflation is dissipating-Russia Sanctions are working-the University of Canada-Apple is building a Facebook ad machine-Fantasy Football is back!!!Listen on Apple, Spotify, or Google Podcasts.If you aren't in the Reformed Millennials Facebook Group join us for daily updates, discussions, and deep dives into the investable trends Millennials should be paying attention to.

Use code JACK250 to get $250 off tickets to Blockworks Digital Asset Summit https://blockworks.co/events/digital-asset-summit-2022-new-york/ Use code “guidance” to get 50% off Blockworks Research: https://blockworks.co/get-research/ -- In September, the Federal Reserve is set to remove even more liquidity from markets by taking its Quantitative Tightening (QT) program to the next level. Joseph Wang, former senior trader for the Federal Reserve, and veteran banker Chris Whalen, join Jack to explain how this additional wave of monetary tightening will send shockwaves through markets, particularly the two assets that comprise the Fed's balance sheet: U.S. Treasuries and agency Mortgage-Backed Securities (MBS). Joseph argues that the U.S. Treasury will likely enact a “buyback” program of its longer-duration securities in order to dampen QT's volatility, and Whalen contends that if the Federal Reserve sells Mortgage-Backed Securities (as opposed to merely letting them mature), armageddon will ensue. Filmed on August 17, 2022. -- Read Joseph Wang's latest piece, “The Marginal Buyer”: https://fedguy.com/the-marginal-buyer/ Follow Chris Whalen on Twitter https://twitter.com/rcwhalen Follow Joseph Wang on Twitter https://twitter.com/FedGuy12 Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ -- Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/ -- Joseph Wang's work can be found here: https://fedguy.com/ Chris Whalen's work can be found here: rcwhalen.com -- (00:00) Introduction (01:32) The Effect of Quantitative Tightening (QT) On Commercial Banks (21:00) Vulnerabilities in The Treasury Market (25:15) The Conundrum in Mortgage-Backed Securities (MBS) (32:30) The Fed's Banking "Stress Test" (43:43) Swelling Reverse Repo Facility (48:22) The Fed's Giant Mortgage Problem (59:53) How Far Will The Fed Go In Hiking Rates? (1:02:03) Why Is The Fed's Balance Sheet Not Going Down During QT? -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Banks should be money warehouses of money not investment houses. Because banks have chose to become investment entities they increase their risk through speculation chasing profits. In the event of bad investment they default or beg for bailout from the taxpayer. The fed lends money and inflation increases. --- Send in a voice message: https://anchor.fm/david-nishimoto/message

Portfolio Manager Nick Childs and Securitized Products Analyst Tom Polus discuss the reasons why they believe mortgage-backed securities have been sold off disproportionately, and if that might be a good thing going forward.

On today's episode, Editor in Chief Sarah Wheeler talks with Senior Reporter Bill Conroy about how investors in the secondary market are reacting to rapid rate changes. The two also discuss the non-QM lenders expanding during this time and how the GSEs are offloading risk.HW Media articles related to this episode:Non-QM players still doing PLS deals despite rate volatility HW+Foreign investors play key role in MBS market Jun 10, 2022Non-QM lender Excelerate Capital flexing its wings in a new normal market

Mortgage-backed securities went ‘no-bid´ on Friday after latest surging inflation report As the Fed continues to raise interest rates, the mortgage market continues to run into problems. And after Friday's latest disastrous inflation report, Zero Hedge is reporting that the mortgage-backed securities market went ‘no-bid,' similar to what we witnessed in 2008 when the whole sector was melting down. To find out more about what happened, click to watch this brief update now! - To get Arcadia silver videos delivered straight to your email inbox click here: https://arcadiaeconomics.com/email-signup/ - To get on the waiting list for your very own ´Silver Chopper Ben´sterling silver figurine click here: https://arcadiaeconomics.com/get-a-chopper-ben/ - To get your paperback or audio copy of The Big Silver Short go to: https://arcadiaeconomics.com/thebigsilvershort/ - To see the evidence of manipulative behavior in the silver market (as well as how you can send it to your local regulators and Congressional representatives) click here: https://arcadiaeconomics.com/cftc-complaint/ - To sign the petition to ban JP Morgan from having any involvement in the silver industry click here: https://www.ipetitions.com/petition/ban-jp-morgan-from-trading-gold-and-silver - Follow Arcadia Economics on Twitter: https://twitter.com/ArcadiaEconomic - To receive updates about Arcadia option trading events: https://arcadiaeconomics.com/options/ - #silver #silverprice And remember to get outside and have some fun every once in a while!:) (URL0VD)Subscribe to Arcadia Economics on Soundwise

A whole lot of AMAZING with the Barry Season 3 Finale and a brief chat about the news regarding Mortgage Backed Securities (famous for the 2008 Market Crash) --- Support this podcast: https://anchor.fm/nick-cormier/support

L'ultimo report sull'inflazione ha sorpassato le stime degli analisti: 8.6% rispetto all'anno scorso contro un'attesa di 8.3%, in aumento dell'1% da aprile 2022. Sembra una piccola discrepanza, ma il dato mostra che il recente aumento dei tassi di interesse della FED non è servito a rallentare l'inflazione: serve una manovra di politica monetaria ancor più restrittiva. Il report di venerdì, in aggiunta alla recente dichiarazione della BCE in cui dichiara l'aumento dei tassi di interesse nell'Eurozona per combattere l'inflazione, ovviamente ha colpito i mercati azionari, in calo a fine settimana. Tuttavia, non si parla abbastanza di un mercato importante, cioè quello dei mutui e dei titoli associati ad essi, che rappresenta anche la domanda di proprietà immobiliari, pilastro dell'economia reale. Oggi vediamo che succede... sintonizzatevi!--------------------------------------------MEMBERSHIP: https://mataandassociates.com/membershipLISTA LIBRI: https://mataandassociates.com/lista-libriCONSULENZE: https://mataandassociates.com/consulenzeSITO: https://mataandassociates.comFACEBOOK: https://www.facebook.com/mataandassociates

In this Real Estate News Brief for the week ending June 4th, 2022... what's being done about inflation, how inflation is impacting homebuyers, and why lumber prices are actually falling.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic News We begin with economic news from this past week, and lots of talk about inflation. President Biden launched a new effort last week to tackle inflation. As reported by the Washington Post, he was apparently fuming to aides that not enough was being done to control inflation. That turned into a flurry of activity to get the ball rolling and send a positive message to the American people. He met with both Federal Reserve Chief Jerome Powell and Former Fed Chief Janet Yellen in the Oval Office, and said in a public address that fighting inflation was his top economic priority. (1)President Biden also published an op-ed piece for the Wall Street Journal outlining a three-part strategy for fighting inflation. The first part involves the Federal Reserve's responsibility for controlling inflation, which it's now doing with aggressive rate hikes. Biden says he won't meddle with that, but for part two, he says he will do what he can, or with the help of Congress, “to make things more affordable for families.” That includes an effort to lower prices for gas, utilities, prescription drugs, and other everyday goods. The third part involves deficit reduction. The Congressional Budget Office projected the deficit will fall by $1.7 trillion this year. Biden wants to see even more of a reduction with what he calls “common-sense” tax reforms. (2)*Ironically, what was not mentioned was the Fed's stimulus, and the trillions of dollars that were created over the past two years that increased the money supply by nearly 50%. Additionally, the Fed had continued to buy Mortgage Backed Securities to support the housing market, until spring of 2022, when home prices had already increased by 20%. So in my opinion, the Federal Reserve together with the US government contributed to the inflation they are now trying to combat with rapidly rising rates and Quantitative Tightening. If you'd like to hear more about my opinions on how we got here, listen to the new podcast, On the Market, which is sponsored by FundRise. I am a regular guest expert on that show, and we go into detail on what's behind the headlines.There's a bit of good news about Social Security thanks to the strong job market recovery. The Treasury Department says that Social Security benefits are now fully funded through 2034. That's one year longer than previous estimates. It also says the disability insurance program has enough funds to pay full benefits for the next 75 years, through 2097. Last year, Treasury officials said that funds would be gone by 2057. (6)Unemployment claims fell for a second week in a row. There were just 200,000 initial claims, and 1.31 million continuing claims. Continuing claims are the lowest since 1969. (7) The unemployment rate in May was at 3.6%. (8)Now to the housing market: Construction spending was .2% higher in April, mostly due to money spent on residential construction. It was up .5% for single-family homes, .8% for multi-family buildings, and down for non-residential private and public construction. (9)*The latest Case-Shiller home price report shows that prices hit a new record high in April. The 20-city index was up 3.1% in April for a yearly rate of 21.2%. Keep in mind that April closings probably had rate locks in March, before interest rates increased two points.(10)Mortgage Rates Mortgage rates didn't move much this last week. Freddie Mac says the average 30-year fixed rate mortgage was down just one basis point, to 5.09%. The 15-year was up one point to 4.32%. (11) Purchase applications are now about 14% lower than they were a year ago, thanks to higher rates. The Mortgage Bankers Association says the average contract rate for a 30-year with a 20% down payment was 5.33% last week. (12)In other news making headlines...Inflation Impact on Homebuyer's BudgetInflation is taking a huge bite out of the homebuyer's budget. According to the National Association of Realtors, homebuyers have to chop $40,000 off their budget for a home because they are paying more for everything else. (13)NAR says the average consumer is paying about $500 more per month compared to a year ago. That's an extra $6,000 a year. NAR'S chief economist Lawrence Yun expects a 10% decrease in housing demand thanks to higher prices, although he still expects a 5% increase in home prices because of the tight inventory. Lumber Prices TumbleLumber prices are coming back down to earth. The National Association of Homebuilders says they fell 12% this last week to their lowest level so far this year. (14) The Wall Street Journal reports that prices are coming down because the housing market is cooling off a bit. It says that orders for lumber are slowing down so inventories are building up, and sawmills are slashing prices.That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!You can also join RealWealth for free at newsforinvestors.com. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more. Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.washingtonpost.com/politics/2022/05/31/biden-inflation-frustration/2 -https://www.wsj.com/articles/my-plan-for-fighting-inflation-joe-biden-gas-prices-economy-unemployment-jobs-covid-11653940654?mod=opinion_lead_pos53 -https://www.cnbc.com/2022/06/03/feds-mester-says-inflation-hasnt-peaked-and-multiple-half-point-rate-hikes-are-needed.html4 -https://www.cnbc.com/2022/06/02/fed-vice-chair-lael-brainard-says-its-hard-to-see-the-case-for-the-fed-pausing-rate-hikes-.html5 -https://www.cnbc.com/2022/06/01/the-feds-mary-daly-says-rate-hikes-should-continue-until-inflation-is-tamed.html6 -https://www.cnbc.com/2022/06/02/social-security-trust-fund-will-be-able-to-pay-benefits-longer-than-expected.html?&qsearchterm=social%20security7 -https://www.marketwatch.com/story/u-s-unemployment-claims-drop-to-200-000-as-layoffs-fall-to-lowest-level-on-record-11654173646?mod=economy-politics8 -https://www.marketwatch.com/story/coming-up-u-s-jobs-report-for-may-11654257620?mod=economic-report9 -https://www.marketwatch.com/story/u-s-construction-spending-rose-slightly-in-april-271654094325?mod=search_headline10 -https://www.marketwatch.com/story/increase-in-u-s-home-prices-hits-another-record-high-case-shiller-shows-11654004193?mod=bnbh_mwarticle11 -https://www.freddiemac.com/pmms12 -https://magazine.realtor/daily-news/2022/06/02/mortgage-applications-are-falling13 -https://www.realtrends.com/articles/inflation-cuts-homebuyer-budgets-by-40000/14 -https://magazine.realtor/daily-news/2022/06/03/the-lumber-bubble-may-have-just-burst15 -https://magazine.realtor/daily-news/2022/06/01/top-cities-for-renting-in-2022

Summary:The past week saw the US Federal Reserve (Fed) do exactly as markets expected as it increased its benchmark interest rate by 50 basis points (to a range of 0.75% - 1.0%), constituting the biggest single increase in US borrowing costs since the year 2000. The Fed also announced plans to reduce its gargantuan $9 trillion balance sheet. In June, July and August, The Central Bank plans to reduce its stock of Treasury Securities and Mortgage Backed Securities by a combined total of $47.5 billion per month, then from September onward by a combined total of $95 billion per month.Stocks featured:Airbnb, Lyft, Shopify, Uber and Under ArmourTo find out more about the investment management services offered by Walker Crips, please visit our website:https://www.walkercrips.co.uk/This podcast is intended to be Walker Crips Investment Management's own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. See acast.com/privacy for privacy and opt-out information.

On today's episode, Editor in Chief Sarah Wheeler talks with Senior Mortgage Reporter Bill Conroy about the murky world of crypto securities. The two discuss the venture capital being poured into the space, the near-term potential for disruption, and which companies — traditional or otherwise — are wading into NFTs, crypto-mortgages and crypto-mortgage backed securities.  HW Media articles related to this episode:LoanSnap unveils new cloud-based portalMAXEX extends loan-trading reach with DSCR programFractional home-equity lender Point raises $115 million

Kirian Van Hest, Deso Games, is back in the show to give us in-detail data that points out that we are living a replay of 2008. Mortgage backed securities are imploding and are not predictions, it seems to be a reality. Follow Deso on Twitter: https://twitter.com/DesoGames

DC Analyst joins Joseph Wang and Jack Farley for a discussion about commercial banks, treasuries, and bearishness on banks. -- DC on Twitter: @AnalystDC Joseph Wang on Twitter: @FedGuy12 Jack Farley on Twitter: @JackFarley96 Blockworks on Twitter: @Blockworks_ -- Links ___ Liberty Street Economics, "The Fed's Balance Sheet Runoff and the ON RRP Facility": https://libertystreeteconomics.newyorkfed.org/2022/04/the-feds-balance-sheet-runoff-and-the-on-rrp-facility/ Bullard's Triple Rate Hike Comment: https://www.bloomberg.com/news/articles/2022-04-19/last-resort-fed-hike-enters-debate-as-bullard-invokes-1994-move DC's substack: https://dcchartbook.substack.com/p/chartbook-15?s=r Joseph Wang's writings: https://fedguy.com/draining-the-rrp/ -- (00:00) Introduction To DC Analyst (02:01) Why Are Banks Buying Fewer Treasuries? (14:30) Implosion Of The Japanese Yen (20:40) Who Will Buy The Treasuries? (31:20) What If Banks Don't Lend More? (37:30) Bearish For Banks? (No) (42:47) Quantitative Tightening - Will The Fed Be Forced to Sell? (46:57) Mortgage-Backed Securities (57:40) Bullard's Comments on Triple-Hike

Everything seems to be getting more expensive, and many of you have asked us to discuss the reasons why. If you are interested in interest rates, home prices, and the cost of goods, this episode is for you!!!

In this week's episode, Kelly dives into a tool and resource she uses everyday to help clients determine if they should buy or rent, lock in an interest rate, and just overall keep her tapped into what's going on in the world of Mortgage Backed Securities. It helps her give accurate advise to clients, which is always a win!  As always, enjoy! On a Mission Podcast can be found onFacebook at https://www.facebook.com/onamissionpod/Instagram at https://www.instagram.com/onamissionpod/.Kelly can be found onFacebook at https://www.facebook.com/kellyanntanke/Instagram at https://www.instagram.com/kellyatanke/.Dena can be found onFacebook at https://www.facebook.com/dfrankrealtor/Instagram at https://www.instagram.com/denafrankcoaching/website at http://www.denafrank.com.

Innovation has always been critical to the State of Wisconsin Investment Board's (SWIB's) success. As assets under management continue to grow, and the investment industry and the world continue to change, SWIB is positioning itself for the future, finding innovative ways to invest the public pension funds and help secure the financial futures of the people who rely on the Wisconsin Retirement System (WRS). Last year, SWIB continued to look forward when it launched two new internal alternative fixed income strategies. The new Mortgage Backed Securities and High Yield Portfolios are designed to target less efficient segments of the market. In addition, SWIB partnered with three North American public pension plans to create the Global Peer Financing Association, an innovative nonprofit investment group focused on peer-to-peer securities financing opportunities. In this episode of the podcast, we talk about these innovative initiatives, find out more about how they fit into SWIB's overall investment strategy for the WRS, and learn how they are keeping SWIB at the leading edge of institutional investing. We're joined by Mike Shearer, SWIB's head of alternative fixed income strategies; Dave Jordan, SWIB's high yield portfolio manager; and Chris Benish, a managing analyst in SWIB's Asset & Risk Allocation Division.

A breakdown of yesterday's Fed day in the following format: 1. Pre FOMC (~1 hour before) 2. Post FOMC (~2 hours after) 3. Post post FOMC (~24 hours later) Can you see the difference? The Fed made the decision to accelerate their taper by $30b a month (meaning that they are going to stop providing so much support to Treasuries and Mortgage Backed Securities) as well as released their dot plot - with 3 hikes in 2022. This was a relatively hawkish call for the Fed - meaning that they see some hotness in their dual mandate of price stability (definitely here) and maximum employment (still some ways to go here, but close).

Everybody will be a pro in Commecial Mortgage-Backed Securities (CMBS) by January 2022. In the recent Montgomery Mall foreclosure sale, the mall had lost roughly 70% of its value from 2014 and nearly 5% from its appraisal eight weeks ago. This is just one example of commercial real estate going bad and pensions are loaded with it. Article: https://www.bizjournals.com/philadelphia/news/2021/11/20/montgomery-mall-sold-foreclosure-sale.html Watch the video on YouTube: https://www.youtube.com/watch?v=Px896AtpGFc Subscribe to #NinjaNation at https://economicninja.org

Terry Buhler from Bankers' Bank joins us as we discuss why your mortgage may be originated by one company and then ends up being serviced by a completely different organization. If you already know the answer to that question, then join us as we discuss everything from the revenue streams associated with closing mortgages to loan pooling and mortgage backed securities… 

On this week's episode of the Basis Point's podcast, Kevin Flanagan is joined by Jeff Dutra from Voya Financial to discuss the WisdomTree Mortgage Plus Bond Fund (MTGP). The WisdomTree Mortgage Plus Bond Fund operates as an actively managed exchange-traded fund that seeks income and capital appreciation through investments in mortgage-related debt and other securitized debt. Basis Points: 1/100th of 1 percent. Distributor: Foreside Fund Services LLC

An entire program dedicated to reviewing many different Inflation Hedge Investment Ideas.  Ways to potential diversify your portfolio to protect against the possibility of higher inflation and higher interest rates.

In this episode, members of the Actualize team, Partner Matt Seu and Director of IT and Software Delivery Geran Combs, discuss the Private Label Residential Mortgage Backed Securities Dataset with Julia Curran, Senior Director at SitusAMC. Listen to learn:-        Why the PL RMBS spec was created and its importance -        How the spec was mapped to older standards like the ASF Data Tape-        The benefits of having a data standard and adopting MISMO-        How the spec can help create operational efficiencies through automation About Matt Seu:-        Partner at Actualize Consulting with over 31 years of experience. He is a Subject Matter Expert in mortgage technology platforms and products. Prior to his time at Actualize, he served as a Vice President for Freddie Mac where he focused on large scale business and technology change efforts.         About Geran Combs: -        Director of IT and Software Delivery at Actualize Consulting with over 25 years of experience. He specializes in MISMO and Data Management and is an elected member of the MISMO Residential Standards Governance Committee and co-chair of the MISMO Servicing and Residential Mortgage-Backed Securities Workgroups. He also participates in the Council of Chairs, Information Management, Future State Standards Initiatives, and MBA Servicing Transfer and MBA Residential Technology Workgroups.Email: gcombs@actualizeconsulting.com About Julia Curran:Senior Director at Situs AMC. She has over 25 years of experience in the mortgage industry, with over 13 years in the due diligence arena. She has managed hundreds of due diligence projects covering whole loan purchases as well as rated private securities. In addition to leading all securitization efforts for SitusAMC clients, she is also co-chair of the MISMO Private Label Securitization Development Workgroup and is heavily involved with the Structured Finance Association.Email: juliacurran@situsamc.comThanks for listening to this episode of the Actualizing Success Podcast! We hope you enjoyed the discussion and come back for more. In the meantime, don't forget to rate this episode and leave a review. Links & More Info:Website: www.actualizeconsulting.comIf you have any questions or comments, we'd love to hear from you. You can contact us at podcast@actualizeconsulting.com

In 1952, Harry Markowitz published a now-famous article where he proposed that investors should optimize portfolio expected return relative to volatility. Markowitz helped investors realize that by owning a diverse basket of investments, they could significantly reduce their risk without suffering a commensurate reduction in their expected return. This insight marked the birth of Modern Portfolio Theory (MPT) and, by the late 1960s would come to change how investors across the globe thought about investing. The trouble is, some of the assumptions underpinning MPT are keeping more investors from embracing ESG and impact investing. Today's guest Jon Lukomnik joins us to discuss his new book Moving Beyond Modern Portfolio Theory: Investing That Matters. In the book, which is co-authored by James Hawley, Lukomnik and Hawley give a thorough accounting of how many of the assumptions underlying MPT are unrealistic or mistaken. For instance, MPT dictates that investors can mitigate systematic risks (the risks inherent in specific investment) through diversification but cannot influence large systemic risks (threats to the entire system) such as climate change or massive geopolitical instability. Lukomnik and Hawley argue that investors can and do affect systemic risks. For evidence, one need look no further than the 2008 financial crisis where investors fueled the rise of Mortgage-Backed Securities and other collateralized securities that eventually threatened to topple the global financial system. Similarly, MPT is wrong to assert that investors cannot mitigate systemic environmental or social risks like climate change. They can. But doing so requires investors to utilize tactics that aren't part of their traditional toolbox (e.g. shareholder engagement, policy & advocacy, etc.). Jon is well-positioned to write this book. He is currently Managing Director of Sinclair Capital, a consultancy to institutional investors and formerly was a senior city official running New York City's pension funds where he oversaw $80 billion in assets. He also co-founded the International Corporate Governance Network (ICGN), which now represents investors from 43 countries, overseeing some $42 trillion in assets. Jon has been a board member of public, private and not-for-profit companies. He is a three-time recipient of the NACD's Directorship 100 award for being one of the 100 most influential people in US corporate governance. He has also been honoured by the ICGN, Ethisphere, Global Proxy Watch and others. In this episode of the podcast, Jon and I discuss the major arguments from his book including; the importance of MPT; some of the flaws in its underlying assumptions; how the very success of MPT has further undermined the assumptions that underpin it; and why MPT apologists who argue that ESG and impact investing will underperform have it wrong. And be sure to stay tuned to the very end when Jon responds directly to a conversation from an investment podcast where the experts argue that ESG and Impact Investing is doomed to underperform. ENTER OUR GIVEAWAY - for a chance to win an awesome impact investing gift pack that includes a $250 Patagonia gift card, a 60 mins impact investing coaching call with yours truly, and two great impact investing books (including Moving Beyond Modern Portfolio Theory). Visit www.davidoleary.ca/giveaway to enter to win. Resources from this episode: Moving Beyond Modern Portfolio Theory: Investing That Matters by Jon Lukomnik & James Hawley Jon Lukomnik's firm Sinclair Capital Ep 124 of the Rational Reminder Podcast with Professor Lubos Pastor

As the summer wears on, both equity and fixed income markets have been heating up with volatility. Investors looking to cool off can turn to the longer-term trends that extend beyond the next 12 to 18 months – including Clean Energy, Autonomous Tech, Space Tourism and ESG bonds. In this episode, Danielle Neziol, Matt Montemurro and Chris Heakes explore the potential upside of these Megatrends, and how they can be accessed through BMO's Innovation ETF suite. Our experts also delve into recent trends concerning the Canadian housing market, and outline what, if any, impact investors can expect to see in the Mortgage-Backed Securities market. Read the episode summary.  Danielle Neziol is a Product Manager at BMO Global Asset Management. She is joined on the podcast by Chris Heakes and Matt Montemurro, both Portfolio Managers and ETF Specialists at BMO Global Asset Management. The episode was recorded live on July 28, 2021. ETFs mentioned in the podcast: BMO Clean Energy Index ETF (Ticker: ZCLN) BMO ESG Corporate Bond Index ETF (Ticker: ESGB) BMO ESG US Corporate Bond Hedged to CAD Index ETF (Ticker: ESGF) BMO ESG High Yield US Corporate Bond Index ETF (Ticker: ESGH) BMO MSCI Tech & Industrial Innovation Index ETF (Ticker: ZAUT) BMO Canadian MBS Index ETF (Ticker: ZMBS) Resources mentioned in the podcast: Megatrend and Thematic ETFs       Disclosures: The viewpoints expressed by the Portfolio Manager represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual's investment objectives and professional advice should be obtained with respect to any circumstance. Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. The BMO ETFs or securities referred to herein are not sponsored, endorsed or promoted by MSCI Inc. (“MSCI”), and MSCI bears no liability with respect to any such BMO ETFs or securities or any index on which such BMO ETFs or securities are based. The prospectus of the BMO ETFs contains a more detailed description of the limited relationship MSCI has with BMO Asset Management Inc. and any related BMO ETFs. Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. ®/™Registered trade-marks/trade-mark of Bank of Montreal, used under licence.

"I'm starting to think there may be no better form of stimulus for the rest of America than for the Fed to withdraw from the mortgage bond buying they've been doing. " - Josh BrownFor more visit: The Reformed BrokerFor disclosure information please visit: https://ritholtzwealth.com/blog-disclosures/ See acast.com/privacy for privacy and opt-out information.

Looking for an income solution with little to no credit risk? In this episode of Inside Investments, Rob Butler speaks with Director and Portfolio Manager of Exchange Traded Funds, Matt Montemurro, about the advantages of investing in the $500 billion Canadian MBS market, and the significant structural differences from its U.S. counterpart. Listeners will hear how BMO Canadian MBS Index ETF (ZMBS) has democratized the asset class for investors, providing direct access to a strategy previously only reserved for institutions that bolsters portfolio yield – and offers stability and assurance at the same time.   ETFs mentioned in the podcast: ·       BMO Canadian MBS Index ETF (ZMBS)     Disclaimers The viewpoints expressed by the Portfolio Managers represent their assessment of the markets at the time of publication. Those views are subject to change without notice at any time without any kind of notice. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual's investment objectives and professional advice should be obtained with respect to any circumstance. Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. Commissions, management fees and expenses all may be associated with investments in exchange traded funds. Please read the ETF Facts or prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the prospectus. BMO ETFs trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. ®/™Registered trade-marks/trade-mark of Bank of Montreal, used under licence. 

Episode 24 - This episode is about Commercial Mortgage Backed Securities, otherwise known as CMBS Loans, for commercial, multifamily and hospitality real estate.  This episode is part 4 of the series and it explains what B-Piece buyers are.

Episode 23 - This episode is about Commercial Mortgage Backed Securities, otherwise known as CMBS Loans, for commercial, multifamily and hospitality real estate.  This episode is part 3 of the series and it explains the role that Rating Agencies play in the securitization process.

This episode is also available as a blog post: http://confoundedinterest.net/2021/05/01/federal-reserves-bizarre-mortgage-backed-securities-mbs-purchase-strategy-with-ultra-low-available-housing-inventory-housing-bubble-preservation/

Website: https://bitcoinandmarkets.com/e226/ Hopefully this episode helps you understand the arguments people often make and if they hold water next time the invoke the Triffin Dilemma. My interest in the Triffin Dilemma started several months ago. Little did I know then that I was trying to debunk an ahistorical extension of the original Triffin argument. I initially came to this conclusion: The problem with using Triffin in an argument about a dollar collapse is 1) it's ahistorical and 2) there doesn't need to be a capital account deficit in the US and surpluses in other countries for them to acquire dollar reserves. In this episode, I try to provide you with a basic understanding of the original Triffin Dilemma from Robert Triffin in 1958, and of why the modern extensions of this famous prediction are poor facsimiles. I provide tons of useful links below as part of the show notes. Balance of Payments It all comes down to the Balance of Payments for a country which issues the global reserve currency. The two main parts of the BoP are the current account and the capital account (including the financial account which we don't talk about). These two halves of the BoP must balance. The current account consists main of a balance of trade. Is the country running a trade surplus or a trade deficit. Other factors are things like foreign aid which we don't have to consider because it's very small compared to the trade balance. The capital account consists of flow of assets and liabilities for the country as a whole. When a foreigner buys a US asset (or a dollar denominated asset) this is a positive input for the capital account. In the reverse, when a US person or entity buys an asset in a foreign country it is a negative input for the capital account. Remember, the current account must be offset by the capital account. Therefore, if the US has a trade deficit of say $500 billion, they must have a capital account surplus of $500 billion. Triffin and Trade Surpluses When Triffin was writing the original Triffin Dilemma, in the 50's and 60's, the US ran massive trade surpluses. This means the capital account was negative - the US was losing assets abroad, or more accurately gaining liabilities abroad. Triffin was concerned that when the dollar denominated value of foreign liabilities surpassed that of the US's gold stock which backed the dollar at the time, there would be a run on the gold stock by those foreigners. They would sell their dollar denominated assets and take delivery of the gold, portending the doom of the US dollar peg. Current Account and Fiscal Triffin The US dollar did end up going off the gold standard in 1971, but not for the reasons Triffin predicted. Despite being accidently right, this form of argument became very popular in economics. Today, we can see two main extensions to the Triffin Dilemma, "current account Triffin" which is exactly the opposite of the original theory, and "fiscal Triffin" which is about global demand for US debt to cause the US to run unsustainable fiscal deficits. The current account Triffin is the most used by inflationists to support their dollar bear views, and, well, it's totally false. It reverses cause and effect, and lacks a clear systemic risk. The fiscal Triffin is more sound, but it is also false. It fails to consider other forms of safe assets like Mortgage Backed Securities and other derivatives. These are inferior to US Treasuries, but they are still widely used in their place (with an associated premium surely). Fiscal Triffin also lacks a clear systemic risk to the financial system, so is unlike the original. Hope this helps. A Links Wikipedia entry for Triffin Dilemma BIS Report - Triffin: Dilemma or Myth? BIS Report with my highlights via Hypothesis Understanding Capital And Financial Accounts In The Balance Of Payments - Investopedia FRED - Financial Accounts of the United States Khan Academy - Balance of payments: Capital account

Your Real Estate Life Your Day in Real Estate Radio Michael A. Harris - Host Phone: (888) LIFE-980 (888) 543-3980 Fax: 800-778-0663 This Show will allow you a place to plan Your Real Estate Life. Whether you are starting, continuing or expanding your wealth, Your Real Estate Life is the place for you! Your Real Estate Life's TEAM of industry professionals will answer the tough questions while providing the only place you will need to go for all your Real Estate needs. Your Real Estate Life team will always be there for you to discuss Your Real Estate Life. Hard hitting topics where we discuss Lending, Investment Property, IRA Investing, The Economy, and topics important to you. We have it all here available for you! Stop paying YOUR LENDER too much MONEY! They love you...YOU do not need that kind of love in your life. What Kind of Loan Do You Have?

In todays episode Jayson and Matt talk about how to think about the stock market and investing if you're a beginner, the GameStop & AMC short squeeze, and breaking down investment jargon and acronyms to help you understand the world the investing. Note: In this episode Jayson meant to say "Mortgage Backed Securities instead of Collateralized Debt Obligations" The top business story we discussed in this episode: * Robinhood Markets Inc V.S Retail Investors V.S Hedge Funds Business news delivered with entertainment. This podcast is hosted by Jayson Dombele and Matthew Smith. Every week you will receive a recap on the top 2 business stories of the week along with an open-ended conversation on various topics related to markets, finance, personal development and life. Follow Us: Jayson Dombele Instagram: @jaysondombele Linkedin: Jayson Dombele Matthew Smith Instagram: @nonstop.matt Linkedin: Matthew L.F Smith --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

A structured investment vehicle is a pool of investment assets that attempts to profit from credit spreads between short-term debt and long-term structured finance products such as asset-backed securities.A structured investment vehicle is a type of special-purpose fund that borrows for the short-term by issuing commercial paper, in order to invest in long-term assets with credit ratings between AAA and BBB. Long-term assets frequently include structured finance products such as Mortgage-Backed Securities, Asset-Backed Securities, and the less risky tranches of Collateralized Debt Obligations.Funding for SIVs comes from the issuance of commercial paper that is continuously renewed or rolled over; the proceeds are then invested in longer maturity assets that have less liquidity but pay higher yields. The SIV earns profits on the spread between incoming cash flows (principal and interest payments on ABS) and the high-rated commercial paper that it issues.

Roy March (CEO, Eastdil Secured) discusses the ins and outs of Commercial Mortgage-Backed Securities (CMBS) with Richard Green (Director, USC Lusk Center for Real Estate). Starting with the history of how CMBS was born out of the Savings and Loan Crisis in the late 1980s and how it gained ground after the 2008 crisis by providing much-needed liquidity, the conversation covers a wide range of the market. March offers insights and observations on how a global aging population focused on long-term saving impacts interest rates, how valuation and refinancing is changing since COVID-19, and what changes have been made in governance to provide more flexibility on loan terms. March also takes a moment to address the shortcomings of the homelessness and housing crisis, particularly in Southern California.

The COVID-19 pandemic has impacted all corners of the market, including mortgage-backed securities. Franklin Templeton Fixed Income's Paul Varunok takes a closer look at the space, and why he feels they can offer some stability in a fixed income portfolio.

In today's Daily Download episode, HousingWire Digital Producer Alcynna Lloyd covers the Department of Housing and Urban Development Secretary Ben Carson's statement to Congress that he supports DACA recipients to receive Federal Housing Administration mortgages.For some background on the story, here's a summary of the article:Ben Carson, secretary of the Department of Housing and Urban Development, told Congress on Tuesday that he supported Deferred Action for Childhood Arrival recipients being eligible for mortgages backed by the Federal Housing Administration.Carson initially denied in his testimony that DACA recipients had been banned from getting FHA loans after President Donald Trump was sworn into office in 2017, then backpedaled.“Do people have conversations? Yes they do,” Carson said. “And I'm sure they will continue to have those conversations. Am I privy to all their conversations? No. Do their conversations change the policies? Absolutely not,” he said.“The whole thing started as the result of a question that was asked about it, and it then came to light that maybe some rules were being violated and people decided that they better pay closer attention to the rules,” Carson told Congress. Carson's comments on so-called Dreamers, as DACA recipients are known, came four days after HUD records and internal communications released as part of a Freedom of Information Act confirmed HUD changed its policy to deny FHA loans for DACA recipients even as top officials told Congress the opposite. Following the main story, HousingWire covers  the Federal Reserve's pledge to keep buying Treasuries and mortgage-backed securities, a report from LendingTree that claims potential homebuyers are going to face historically low inventory this summer, and a survey from Assurant that indicates 38% of American renters will need rent relief in the next 90 days.The Daily Download examines the most captivating articles reported from the HousingWire newsroom. HousingWire newsroom. Each afternoon, HousingWire provides its readers with a deeper look into the stories that are not only chronicling the biggest announcements within the housing finance industry but are also helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.HousingWire articles covered in this episode:Under fire, Carson says HUD will allow DACA recipients to get FHA mortgagesFed pledges to maintain current pace of MBS purchasesPotential homebuyers are going to face historically low inventory this summerAssurant survey: 38% of renters will need relief in the next 90 days

WOW oh WOW Ladies and gents, please take a minute to read THIS: Written by Barry Habib, a very well respected economist in the mortgage industry. The direct link to his article is: https://mbshighway.com/mortgage-crisis.html The Coronavirus Meltdown The current Coronavirus crisis is having a critical impact on the Mortgage Industry, which could potentially make the 2008 financial crisis pale in comparison. The pressing issue centers around the capital that’s required by Mortgage Lenders to be able to function and meet covenants that are required for them to continue to lend. Here’s How the Mortgage Market Works Let’s begin with the mortgage process. A borrower goes to a Mortgage Originator to obtain a mortgage. Once closed, the loan is handled by a Servicer, which may or may not be the same company that originated the loan. The borrower submits payments to the Servicer, however, the Servicer does not own the loan, they are simply maintaining the loan. This means collecting payments and forwarding them to the investor, paying taxes and insurance, answering questions, etc. While they maintain or “service” the loan, the asset itself is sold to an aggregator or directly to a government agency like Fannie Mae (FNMA), Freddie Mac (FHLMC), or Ginnie Mae (GNMA). The loan then gets placed inside a large bundle, which is put in the hands of an Investment Banker. The Investment Banker converts those loans into a Mortgage-Backed Security (MBS) that can be sold to the public. This shows up in different investments like Mutual Funds, Insurance Plans, and Retirement Accounts. The Servicer role is very critical. In order to obtain the right to service loans, the Servicer will typically pay 1% of the loan amount upfront. The Servicer then receives a monthly payment or “strip” equal to about 30 basis points (bp) per year. Because they paid about 1% to obtain the servicing rights and receive roughly 30bp in annual income, the breakeven period is approximately 3 years. The longer that loan remains on the books, the more money that Servicer makes. In many cases, the Servicer might want to use leverage to increase their level of income. Therefore, they may often finance half of the cost of acquiring the loan and pay the rest in cash. Servicer Dilemma As you can imagine, when interest rates drop dramatically, there is an increased incentive for many people to refinance their loans more rapidly. This causes the loans that a Servicer had on their books to pay off sooner…often before that 3-year breakeven period. This servicing runoff creates losses for that Mortgage Lender who is servicing the loan. The more loans in a Mortgage Lender’s portfolio, the greater the loss. Servicing runoff, or even the anticipation of it, can adversely impact the market valuation of a servicing portfolio. But at the same time, Lenders typically experience an increase in new loan activity because of the decline in interest rates. This gives them additional income to help overcome the losses in their servicing portfolio. But the Coronavirus has caused a virtual shutdown of the US economy, which has created an unprecedented amount of job losses. This adds a new risk to the servicer because borrowers may have difficulty paying their mortgage in a timely manner. And although the Servicer does not own the asset, they have the responsibility to make the payment to the investor, even if they have not yet received it from the borrower. Under normal circumstances, the Servicer has plenty of cushion to account for this. But an extreme level of delinquency puts the Servicer in an unmanageable position. I’m From the Government and I’m Here to Help In the Government’s effort to help those who have lost their jobs because of the Coronavirus shutdown, they have granted forbearance of mortgage payments for affected individuals. This presents an enormous obstacle for Servicers who are obligated to forward the mortgage payment to the investor, even though they have not yet received it. Fortunately, there is a new facility set up to help Mortgage Servicers bridge the gap to the investor. However, it is unclear as to how long it will take for Servicers to access this facility. But what has not been yet contemplated is the fact that a borrower who does not make their very first mortgage payment causes that loan to be ineligible to be sold to an investor. This means that the Servicer must hold onto the asset itself, which ties up their available credit. And with so many new loans being originated of late, the amount of transactions that will not qualify for sale is significant. This restricts the Lender’s ability to clear their pipeline and get reimbursed with cash so they can now fund new transactions.   Mark to Market This week, due to accelerated prepayments and the uncertainty of repayment, the value of servicing was slashed in half from 1% to 0.5%. This drastic decrease in value prompted margin calls for the many Servicers who financed their acquisition of servicing. Additionally, the decreased value of a Lender’s servicing portfolio reduces the Lender’s overall net worth. Since the amount a lender can lend is based on a multiple of their net worth, the decrease in value of their servicing portfolio asset, along with the cash paid for margin calls, reduces their capacity to lend. Question...Now do you see why it is important to to learn how to raise private money to fund your real estate purchases?  Youcan due that right now at PrivateMoneyCrashCourse.com Unintended Consequences The Fed’s desire to bring mortgage rates down isn’t just damaging servicing portfolios because of prepayments, it’s also wreaking chaos in Lenders’ ability to hedge their risk. Let’s look at what happens when a borrower locks in their mortgage rate with a Mortgage Lender. Mortgage rates are based on the trading of Mortgage-Backed Securities (MBS). As Mortgage-Backed Securities rise in price, interest rates improve and move lower. A locked rate on a mortgage is nothing more than a Lender promising to hold an interest rate, for a period of time, or until the transaction closes. The Lender is at risk for any MBS price changes in the marketplace between the time they agreed to grant the lock and the time that the loan closes. If rates were to rise because MBS prices declined, the Lender would be obligated to buy down the borrower’s mortgage rate to the level they were promised. And since the Lender doesn’t want to be in a position of gambling, they hedge their locked loans by shorting Mortgage-Backed Securities. Therefore, should MBS drop in price, causing rates to rise, the Lender’s cost to buy down the borrower’s rate is offset by the Lender’s gains of their short positions in MBS. Now think about what happens when MBS prices rise or improve, causing mortgage rates to decline. On paper, the Lender should be able to close the mortgage loan at a better price than promised to the borrower, giving the Lender additional profits. However, the Lender’s losses on their short position negate any additional profits from the improvement in MBS pricing. This hedging system works well to deliver the borrower what was promised while removing market risk from the Lender.   But in an effort to reduce mortgage rates, the Fed has been purchasing an incredible amount of Mortgage-Backed Securities, causing their price to rise dramatically and swiftly. This, in turn, causes the Lenders’ hedged short positions of MBS to show huge losses. These losses appear to be offset, on paper, by the potential market gains on the loans that the lender hopes to close in the future. But the Broker-Dealer will not wait on the possibility of future loans closing and demands an immediate margin call. The recent amount that these Lenders are paying in margin calls is staggering. They run in the tens of millions of dollars. All this on top of the aforementioned stresses that Lenders are having to endure. So, while the Fed believes they are stimulating lending, their actions are resulting in the exact opposite. The market for Government Loans, Jumbo Loans, and loans that don’t fit ideal parameters, have all but dried up. And many Lenders have no choice but to slow their intake of transactions by throttling mortgage rates higher and by reducing the term that they are willing to guarantee a rate lock. Furthering the Fed’s unintended consequences was the announcement to cut interest rates on the Fed Funds Rate by 1% to virtually zero. Because the Fed’s communication failed to educate the general public that the Fed Funds Rate is very different than mortgage rates, it prompted borrowers in the process to break their locks and try to jump ship to a lower rate. This dramatically increased hedging losses from loans that didn’t end up closing. Even Stephen King Could Not Have Scripted This It’s been said that the Stock market will do the most damage, to most people, at the worst time. And the current mortgage market is experiencing the most perfect storm. Just when volume levels were at the highest in history, servicing runoff at its peak, and pipelines hedged more than ever, the Coronavirus arrived. Lenders need to clear their pipelines, but social distancing is making it more difficult for transactions to be processed. And those loans that are about to close require that employment be verified. As you can imagine, with millions of individuals losing their jobs, those mortgages are unable to fund, leaving lenders with more hedging losses and no income to offset it. What Needs to Be Done Now Fortunately, there are many smart people in the Mortgage Industry who are doing everything they can to navigate through these perilous times. But the Fed and our Government needs to stop making it more difficult. The Fed must temporarily slow MBS purchases to allow pipelines to clear. Lawmakers need to allow for first payment defaults, due to forbearance, to be saleable. And finally, the Fed must more clearly communicate that Mortgage Rates and the Fed Funds Rate are not the same. We have faith that the effects of the Coronavirus will subside and that things will become more normalized in the upcoming months.

Today's mortgage bond and real estate news. Today I share a few extra details as to why some lenders are turning off the faucet and raising rates as well as why the Mortgage Backed Securities are not moving in line with the 10 year US Treasuries and some additional risks facing the market.

Episode 151: What happens when your mortgage is sold? What’s mortgage-backed security? How can you invest in mortgage-backed securities? What are the risks? We cover this and a bit about Apple Cards in our latest episode of Where Our Money Went. This week, Sean learned that his mortgage had been [...]

A candid conversation with the highly regarded mortgage professional in the banking industry- Terri Fowlkes. Terri, a mortgage professional with over 20 years in the banking industry and currently an adjunct Pofessor at Seton Hall University. She responds to the reasons why a loan is packaged into mortgage backed securities aka collatoralized debts and pooled to sell in the secondary markets. She also addresses the reasons why she created alternative financing programs to respond to the undeserved and underrepresented population.

Alex Merced from Greico Financial Training explains what are Asset Backed Securities and Mortgage Backed Securities. Enroll in a course…

Welcome to Finance and Fury, the Furious Friday edition! Today’s misunderstanding is about the “Too big to fail” myth. I want to tell you a story. It’s probably a relatively unheard-of story… of our “Big 4” banks and their recent history.   The whole point of this is to answer: Are financial collapses created by too many regulations, or not enough?   The answer seems to be that more regulation is the only way to solve future financial crashes and any financial collapse has had some form of regulation come out of it as a result. But, the aim of this episode is to see if this has helped or hurt the economy and the banks overall   Warning: The banking system is pretty complicated, so there’s some points in this episode that might be pretty in depth. But that seems to be the whole point of the financial system: Make it so complicated not many people know what is going on. I have tried to make this as simple as possible so hopefully it isn’t a bore.   In this episode: What we will go through Banking sector: Vertical integration – One single company controls several others along the supply chain = profits come from different activities in different areas Look at history repeating itself – Comparing Australia to the US between 1999 and 2008 What really lead to the GFC, and how we may be blindly following the same path The big 4 banks - market share of the economy – the effects on the Stock Exchange and the population   Timeline: How did we get where we are now? Banks listed: early 80s to 91 for CBA - No guarantee on deposits at that point APRA Australian Prudential Regulation Authority – Regulation for Banks - has only been around since 1998 Before this: The riskier banks wanted to be, the higher the interest rate they would need to offer Under tighter regulations, risky banks had to comply to less risky standards Goodbye risk premium on interest Regulations continued as normal for a while, until financial crisis: We had a scare in 2008 – during the GFC banks stopped lending to one another for short term funding for their expenses Banks who can’t operate shut doors. Lehman Brothers for instance Bank runs – Great depression in the US 4,000 banks closed from 1929 to 1933 US banks started doing ‘bailouts’ – In essence, printing money to buy Mortgage Backed Securities off the banks (we’ll come back to this) Fearing a bank run in Australia - October 2008, right at the peak of the GFC, the Australian government decided to guarantee bank deposits This is new-Australian Deposit Insurance – Guaranteed for the public (ironically by the public as well) History has shown Government can’t risk the market effects of wiping out people’s bank deposits – especially when voters money was on the line A guarantee helps to calm the public – if a policy says the money is secure it must be! The Financial Claims Scheme (FCS) was created - emergency measure to secure the banking system. Who is eligible: Authorised Deposit-taking Institutions (ADIs) - bank, building society or credit union. This means that this money is guaranteed if anything happens to the ADI. It applies to all ADIs incorporated in Australia, including Australian-owned banks, foreign subsidiary banks, building societies and credit unions. ADIs insured for up to $1m Feb 2012 – Dropped to $250,000   Sounds good right? Nice and safe! Safety has a dark side – It isn’t really safety for us, but the Banks! Removes incentives for depositors to review a bank before depositing – Onus is taken off us Some banks could offer higher returns, if riskier. But with this it is all the same – almost zero risk – removed risk premium on interest What behaviours it incentivises Increased risk Insurance creates moral hazard – Insurance to cover risky actions Maximise profits as the risks are covered for the most part It really provides safety to banks, and they can increase their risks – like giving a gambler a guarantee on his losses if he made a risky bet? Increased incentives to maximise profits But where from? Derivatives, asset backed securities and covered bonds – these can be risky Massive spike since 2011 of bank profits coming in the form of derivatives Derivatives: Complex financial bits of magic The options – Forward & Future Contracts, swaps, etc. Locking in rates now for the future Asset Backed Securities – Investment with an underlying asset - MBS – CBA: in one security - $2.65bn in mostly AAA rated Covered Bonds – Change in regulation in 2011 = AAA rated bonds issued Debt instruments covered by mortgages Sitting at over $80bn in value since 2011 One difference is issuer covers bonds if they default, not on securities though   What stops this all going wrong: APRA has to overregulate in response – Strong regulatory intervention through the (APRA). Australia has strong regulation but even the best regulation can be gamed. They have to be closely monitored by APRA – But banks are still incentivised to take on more risk Derivatives are held ‘off the books’ and very hard to regulate NAB and CBA stopped disclosing theirs, so who knows what their current levels are?!   Why does it matter? What happens to just 4 banks has an affect on everything! Where we sit today: The big 4 = 25% of the ASX   The ASX is one of the most concentrated in the world Financials – 35% of our index, 25% is just the big 4 banks What is the fate of our market if the big 4 tank? We saw it in the GFC Declines in the banks of over 50% = Big drop in index and panic selling across the board If our banks rise, our market does, they fall, we all suffer, because the government will print money to stop the collapse (bailouts!) Double death! – Both Equity and Debt markets – Comes from regulation. Used to be just one at a time   Why are just 4 banks so big? The regulations lead to concentration at the top – Economies of scale to survive The banks love (or loved – see the Banking Royal Commission) vertical integration! It was needed to survive in the regulatory world.   Current state of the banks 1991 - Commonwealth – Bankwest (2008), Aussie, Colonial First State 1982 - Westpac – RAMS, St George (2008), BankSA, Bank of Melbourne, BT Hastings (Infrastructure), Ascalon, Advance, Securitor, Magnitude 1982 - NAB – Ubank, MLC, Banks of New Zealand JBWere BOQ – Virgin Money, Investec Bank, Home Building society Bendigo bank – Adelaide bank, Delphi Bank, Rural bank The party is over for most as they are selling other divisions: CFS for CBA   Hopefully the vertical integration can be looked at – A brief history of things: It was similar in the US: Has the guarantee $250,000USD, however something went wrong Glass-Steagall – Part of the 1933 Banking Act of the USA – Prohibited vertical integration Congress debated bills to repeal Glass–Steagall's affiliation provisions (Sections 20 and 32). In 1999 Congress passed the Gramm–Leach–Bliley Act, also known as the Financial Services Modernization Act of 1999, to repeal them – But not the guarantee (almost the same place as our system since 2011) How much safety does the guarantee provide to the public? They had it in the US, but that arguably lead to the banks behaviours – Look at this in next Fridays episode How bailouts are funded through “Quantitative Easing” as it was called in the US, but it is printing money by any other name What allows for these bail outs, where the money comes from and the flow on effects of cash advancing your unlimited credit card, but at the government level it is ‘Quantitative Easing’ Thanks for listening! Next Friday we look at Part 2 of this question

Jeffrey Sherman, DoubleLine’s Deputy CIO & Sam Lau, DoubleLine’s Asset Allocation Analyst, host a candid conversation with Ken Shinoda, Portfolio Manager, discussing mortgages, the mortgage crisis and where we are today in the sector.

On this week’s Inside the Economy, we examine how America’s personal savings have changed since the Great Recession. We also discuss how the Federal Reserve will begin to unwind its balance sheet of Treasuries and Mortgage Backed Securities over the next 5 years. Outside of the U.S., economic activity in Spain is looking brighter. What kind of impact will this positive outlook have on the referendum on Catalan independence on October 1st? Tune in to find out!

On this week's Inside the Economy, we examine how America's personal savings have changed since the Great Recession. We also discuss how the Federal Reserve will begin to unwind its balance sheet of Treasuries and Mortgage Backed Securities over the next 5 years. Outside of the U.S., economic activity in Spain is looking brighter. What kind of impact will this positive outlook have on the referendum on Catalan independence on October 1st? Tune in to find out!

On this week’s Hanson McClain’s Money Matters: Scott and Pat take a call about converting rental property income to mortgage-backed securities. They then talk to a state worker looking to retire in the next few years, who wonders if she should invest more aggressively with assets she won’t immediately need. Finally, a discussion with financial industry thought leaderleader Kevin Knull, president of PIEtech and creator of MoneyGuidePro, the industry’s leading financial planning software. If you have a question for Scott or Pat, you can call 1-888-2-HANSON (1-888-242-6766), or you can also submit a question at questions@moneymatters.comat any time to be featured on a future show. Scott Hanson and Pat McClain have been hosting Hanson McClain’s Money Matters radio show for over 20 years, and have answered questions from thousands of callers on a variety of financial topics.

In tonight's episode, part 3 of a 5 part series, we help listeners understand Complex Securities and Derivatives, their purpose, the markets they operate on, and how they played no part in the financial crisis. Instruments such as Mortgage Backed Securities, Credit Default Swaps, Collateralized Debt Obligations often get a bad wrap, as if they are inherently evil or destructive. The fact of the matter, like any financial instrument, is that these complex securities and derivative contracts are a ingenious innovation that help investors and financial institutions MITIGATE risk.  Further, during the financial crisis of 2008, these instruments helped to MINIMIZE the damage done by the Federal Government's Capital Manipulations of the past 2 decades and the Monetary Manipulation of the Federal Reserve Bank. Without such innovative products to help manage risk, the crisis could have been much worse. Tonight we help listeners get a handle on the concept of convertible debt, preferred stock, futures, options, mortgage backed securities, credit default swaps and collateralized debt obligations! Don't miss it!

What is Commercial Mortgage Backed Security (CMBS)? Dave Morrison of First National Financial joins us to discuss the role of CMBS in Canada, covering years 1998 to present.   The History…. Its roots in the US market and Merrill Lynch’s role in establishing the Canadian market Asset Backed Commercial Paper (ABCP) spreads then and now... The post Commercial Mortgage Backed Securities in Canada with Dave Morrison of First National appeared first on Commercial Real Estate Podcast.

Are Lemons Sold First? A Discussion of the Mortgage Market

In this week’s episode: Leviticus 24-27.  We conclude Leviticus with a foray into the world of complicated financial products and the ins and outs of the free market as we address the question:  Why regulate? ICYMI, a paper on the origin of mortgage backed securities, the section of Pope Francis' Evangelii Gaudium where he tears Reaganomics a new one, and an episode of the always interesting Freakonomics podcast discussing Pope Francis' broadside:

The US Government, the justice department, is suing more than a dozen banks claiming that they sold mortgage giants Fannie Mae and Freddie Mac more than $200 Billion in fraudelant loans more than three years ago. So why is the government suing now and what affect does it have on an already struggling housing market. Ed Butowsky, managing partner of Chapwood Investment Management, joins Fox Business' America's News HQ to try and answer these questions.

McAlvany Weekly Commentary About This Week’s Show: How the downgrade of U.S. Treasury Debt will cascade to Mortgage Backed Securities, Fannie & Freddie as well as Municipal Bonds. I scream, you scream we all scream Double Dip! Old habits die hard: Americans get scared due to downgrade in bonds and then run into the same (recently downgraded) bonds […] The post The Worldwide Redefinition of “Riskless-Assets.” appeared first on McAlvany Weekly Commentary.

Guest speaker Will Goetzmann, Director of the Yale International Center for Finance and professor at the Yale School of Management, provides a brief history of debt and financial crises. Professor Goetzmann begins with a discussion on debt slavery in the ancient world, and moves on to real estate financing in New York City. Professor Goetzmann also presents recent research by himself and others on the collapse of the real estate market. He explores the notion that the collapse of the mortgage market followed from the fallout of the larger financial crisis, rather than the other way around. Data on the real estate market is presented and discussed. Larger claims about responsibility of different players for the economic crisis are briefly assessed.

Guest speaker Will Goetzmann, Director of the Yale International Center for Finance and professor at the Yale School of Management, provides a brief history of debt and financial crises. Professor Goetzmann begins with a discussion on debt slavery in the ancient world, and moves on to real estate financing in New York City. Professor Goetzmann also presents recent research by himself and others on the collapse of the real estate market. He explores the notion that the collapse of the mortgage market followed from the fallout of the larger financial crisis, rather than the other way around. Data on the real estate market is presented and discussed. Larger claims about responsibility of different players for the economic crisis are briefly assessed.

Describe the different features of mortgage-backed securities.

Describe the different features of mortgage-backed securities.

My first appearance on Adam Curry's Daily Source Code on 8 April 2008. Discussion on the four main types of risk which include (1)payment, (2) counter-party, (3) exchange-rate and (4) performance. Derivatives play a huge role in the evaporation of the current system. Entire markets are gone such as Auction Rate Securities, Mortgage Backed Securities, etc.

The 2008 US financial crisis has been blamed on the excessive use of mortgage-backed securities. But what exactly is a mortgage-backed security? Learn more about these securities and how they contributed to the crisis in this HowStuffWorks podcast. Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers

The 2008 US financial crisis has been blamed on the excessive use of mortgage-backed securities. But what exactly is a mortgage-backed security? Learn more about these securities and how they contributed to the crisis in this HowStuffWorks podcast. Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers