Private RMBS mart stares into abyss as buyers beg for protection

While US senators on Tuesday delayed consideration of the latest proposal to wind down US housing giants Fannie Mae and Freddie Mac, which dominate 90% of the $10tr US mortgage business, Wall Street’s biggest mortgage investors cut to the heart of what continues to bedevil the market for private mortgage bonds, which have added a mere $1.5bn in volume since January, writes Matthew Scully.