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VMBS vs. ETF Alternatives
Vanguard Mortgage-Backed Securities ETF seeks to track the performance of a market-weighted U.S mortgage-backed securities index with an intermediate-term dollar-weighted average maturity.
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Country: United States
Monday, Mar 31:36 AM|Monday, Mar 31:36 AM| Comment!
Monday, Feb 31:28 PM|Monday, Feb 31:28 PM| Comment!
Thursday, Jan 163:32 AM
Thursday, Jan 163:32 AM| 1 Comment
- The number of foreclosure filings dropped to the lowest level since 2007 last year, declining 26% to 1.36M properties, RealtyTrac says. The figure is less than half of the peak of 2.9M properties in 2010.
- States with the highest foreclosure rates in 2013 were Florida, Nevada, Illinois, Maryland and Ohio.
- The number of foreclosure processes started plunged 33% to 747,728, the lowest since RealtyTrac began tracking the data in 2006. Bank repossessions plummeted 31% to 462,970 properties, the least since 2007. (PR)
- Relevant tickers: PHM, MHO, TOL, KBH, RYL, HOV, SPF, FNMA, FMCC
- ETFs: ITB, XHB, MBB, MBG, VMBS, CMBS, COBO
Wednesday, Nov 272013, 7:06 AM
Wednesday, Nov 272013, 7:06 AM| Comment!
- Vanguard Mortgage-Backed Securities ETF (VMBS) announces monthly distribution of $0.073.
- 30-Day Sec yield of 1.65% (as of 11/26/2013).
- For shareholders of record 03 Dec; Payable 05 Dec; Ex-Div. date 29 Nov.
Wednesday, Oct 302013, 1:19 PM|Wednesday, Oct 302013, 1:19 PM| Comment!
Monday, Sep 302013, 1:52 PM|Monday, Sep 302013, 1:52 PM| Comment!
Wednesday, Sep 112013, 6:49 AM
Wednesday, Sep 112013, 6:49 AM| 8 Comments
- Richmond in California has approved a plan for the city to become the first in the country to forcibly acquire underwater mortgages using the power of "eminent domain," which enables governments to seize private property for a public purpose.
- The idea is for the council to work with investor group Mortgage Resolution Partners to buy delinquent mortgages at deep discounts to the associated properties' market valuations, make the loans more affordable for home owners and avert foreclosure.
- However, critics fear that the program could hurt the market for mortgage-backed securities, provoke lawsuits and endanger Richmond's finances.
- The FHFA has said it will press Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) to limit or cease business where eminent domain is approved, a move that would shut off most mortgage financing in the affected areas.
- ETFs: MBB, MBG, VMBS, CMBS, COBO
Friday, Aug 302013, 7:20 AM|Friday, Aug 302013, 7:20 AM| Comment!
Friday, Jun 212013, 5:45 AMHolders of mortgage bonds may be facing billions of dollars of undisclosed losses after a review of investor documents showed that individual houses are being reported as being in foreclosure long after they've been sold or the loans paid off. The reporting lag has enabled banks and servicers to continue charging investors monthly fees, and could lead to new litigation. The companies involved include Bank of New York Mellon (BK), Wells Fargo (WFC), Ocwen Financial (OCN) and Bank of America (BAC). |Friday, Jun 212013, 5:45 AM| 6 Comments
Saturday, Jun 152013, 11:36 PMUBS thinks it may be 1994 all over again. Some similarities: The Fed's actions to reflate the economy post-2008 resemble the easy money policies that were put in place post-S&L crisis; current "lackluster" economic growth mirrors "mini-cycles"of '90-'93; 290 bps plunge in Treasury yields from '07-'12 reminiscent of 400 bps decline from '90-'94; downtrend in CPI over the past five years resembles drop from early '90s to '94. UBS' advice: Avoid "popular convergence trades" such as EM credit (EMB, EMLC), EU periphery sovereign debt (ITLT, ITLY), U.S. MBS (MBB,VMBS), and high yield (HYG, JNK). |Saturday, Jun 152013, 11:36 PM| 2 Comments
Monday, Apr 292013, 7:53 AM
Tuesday, Jan 82013, 9:59 AMJust before New Year's, Vanguard cut fees on more than a third of its U.S.-listed ETF lineup while raising fees on just 2 ETFs. Its sector ETFs saw the biggest price cuts (from 0.19% to 0.14%) while its 2 small cap funds (VIOO, VIOV) actually saw slight fee hikes. |Tuesday, Jan 82013, 9:59 AM| Comment!
Wednesday, Dec 262012, 9:57 AMThe ETF price wars continue: Vanguard slashed fees on 11 ETFs (full list), effective last Friday. The cuts ranged from 3% for the Russell 2000 Value ETF (VTMV) to 20% for the MBS ETF (VMBS). Vanguard is quick to point out the cuts aren't its attempt to engage in the "price war," but simply reflect the lowered costs of running the funds. |Wednesday, Dec 262012, 9:57 AM| Comment!
Thursday, Jul 52012, 5:50 AMCalifornia's San Bernardino County and two of its biggest cities, Ontario and Fontana, want to use the concept of eminent domain to forcibly buy underwater mortgages from investors, lower the loan principal to match the value of the property, and then resell the reduced mortgages. Proponents believe they have a strong legal case, but mortgage investors are unsurprisingly opposed. (See Shiller) |Thursday, Jul 52012, 5:50 AM| 5 Comments
Friday, Jun 82012, 4:30 AMThe FHA is expected to announce a bulk sale program today in which it will attempt to offload more troubled loans to investors, potentially preventing or delaying foreclosures for thousands of homeowners. The agency has more than 700K loans in default, amounting to more than 9% of the $1T in loans it insures. |Friday, Jun 82012, 4:30 AM| Comment!
Monday, Apr 162012, 12:03 PM