Tozer believes that with depositories in control of the Ginnie market, the regulation of lender/servicers has essentially been outsourced to banking regulators who have “vast experience” in safety and soundness.
Why short Altisource? This source reasons that as real estate values continue to improve and foreclosures slow, Altisource will have less to do going forward...
SIFMA did not take a stance on whether g-fees should be adjusted up or down. Instead, the trade group stressed that it is unclear how a change to g-fees would impact non-agency activity.
Although investors continue to pay premium – or close to it – prices for newly originated mortgage servicing rights, very few residential lenders have tried to securitize the underlying cash flows, leaving some market observers scratching their heads. “There are very few deals out there that I’m aware of,” said one servicing advisor, requesting his name not be used. “If a company needs cash, it’s a good option, but there’s just not much going on.” So far this year, just a handful of MSR-backed bonds have come...