TBMA to Advise Ginnie on MBS

The Bond Market Association has formed a committee to advise Ginnie Mae on ways in which it can become more competitive in the mortgage marketplace while also improving the credit performance and investor interest in its mortgage-backed securities."The committee will continue the dialogue started late last year when the association responded to Ginnie Mae's request for suggestions on how it could improve its MBS and multiclass securities programs," said Rishi Chadda, vice president of MBS trading at Goldman Sachs & Co. and chairman of the new committee. "Our first priority is to identify ways for Ginnie Mae to improve disclosure and provide more information on the mortgages backing its pools of loans, as higher levels of disclosure will help investors feel more comfortable investing in its MBS program and in turn improve pricing and liquidity." The association can be found online at http://www.bondmarkets.com.