Hi Jay, belated thanx for your complement on my MBS vid. Please share the vid with any friends or colleagues to whom you think it would be interesting. I also hope you will find some of the vids on my channel interesting/informative. Cheers, Doug
Hi Priyank, Belated thanks for your gracious compliment. I hope you find other vids on my channel equally informative and useful. Just in case you don't know, the vid you commented on is one in a series of 8 vids the comprise a comprehensive intro to fixed-income markets and instruments (each one approximately an hour in length). The are also a few dozen shorter form (5-15 minutes) vids on a variety of subjects, though most are related to fixed income or derivatives. There is a yield to maturity play list than includes a deeper dive into issues related to YTM that might be of particular to you since those are topics are perhaps the greatest source of confusion and misunderstanding in the financial markets. Please share the links to the vids you enjoy with friends and colleagues to whom they may be of interest. Cheers, Doug
The Fed is buying so many MBS that many TBA trades in agency pass-throughs are difficult to settle on a timely basis. Another example of government intrusion disrupting the market.
It is the death pledge in reality ..it appears these days nothing is 'loaned' at all the banks are broke and just have blank securities waiting for unsuspecting 'customers' to agree to and sign . This in turn creates the fund which finances everything to begin with making the 'customer' the original creditor. In reality it is a usually a special purpose trust for the purchase of a house with the mortgage coming by way of legal charge after the event, in ignorance by the 'customer' (settlor/beneficiary) as a result of misrepresentation and a lack of disclosure by the originating financial institution. Also the securitisation assigns the legal title to the SPV/SPE which has no relationship with the 'Customer'. The originating entity has no legal basis to bring a claim. It would be the SPV/SPE that would need to bring a claim in default or for foreclosure. This appears to be hidden to the customer and the courts.
