MBS holdings at Fannie and Freddie are a shadow of what they used to be. Then again, being in a conservatorship that just celebrated its quinceanera will do that to you.
The volume of FHA loans securitized into Ginnie Mae mortgage-backed securities increased 2.3% between July and August, while VA loan production sent to Ginnie declined at a similar rate. (Includes two data charts.)
The Structured Finance Association continues to push forward on revising the disclosures used with non-agency MBS. The revisions could lead to major changes in industry practices.
These are trying times in the residential finance market. Mortgage rates are high, bond prices are falling and there’s a concern about a lack of MBS buyers. What to do? Let the Fed know how mad you are.
The Obama-era task force set up to investigate MBS fraud that contributed to the 2008 crisis has finished its job. Its efforts led the DOJ to collect $36 billion in penalties from banks, originators and rating agencies.
The rating service will assess expected payments from private mortgage insurers, with implications for MI-linked note issuance and potentially non-agency MBS with loans that have private MI.
United Wholesale Mortgage accounted for a large portion of the prime non-agency MBS issued in the second quarter. Overall, issuance remained subdued. (Includes three data charts.)
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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