Housing economists and analysts caution that the industry isn't out of the woods quite yet.

View year-to-date 2010 ABS issuance totals for ABS, MBS and CMBS.

The risk of non-calls in European RMBS was reignited last month when Portuguese bank Caixa Economica Montepio Geral said it would not exercise the scheduled call for its Pelican 2 RMBS.

The catalyst appears to have been a report issued on Tuesday last week from Morgan Stanley economists.

The ABS industry has to work on a long-term solution to the unintended consequences of the Dodd-Frank act.

MBS analysts across the Street are still expecting limited supply in the near term.

The Dodd-Frank financial reform act signed this month by President Obama was very unfriendly to the non-agency MBS market.

See results from the Mortgage Bankers Association's Refinance and Purchase Indexes as well as the weekly mortgage rates surveyed by Freddie Mac.

As the hunt for yield sends investors further down the credit curve, sources said that a good place to look might be esoteric assets.

The top three ratings agencies are seeking to regain credibility by tailoring their research efforts to better meet investor needs.