Participants in the MBS and ABS market have widespread concerns about a proposal to adjust capital requirements for large banks. They argue that the proposed capital requirements are unnecessarily high.
FINRA proposed reducing trade reporting requirements to one minute after execution from 15 minutes. Many trades of agency debt securities and TBA MBS already meet the proposed reporting requirements, while ABS reporting lags.
Changes to the Ginnie Mae program were included among 35 priority recommendations for fiscal 2024 from the Department of Housing and Urban Development’s Office of Inspector General.
Hybrid work environments are expected to put pressure on CMBS loans for office properties over the next two years and lead to a growing number of properties failing to refinance.
A new IRS private letter ruling outlined a case where exchange bond certificates from a REMIC or grantor trust would be considered a stripped bond under tax policy.
The repo market continues to be a source of liquidity for nonbanks with large mortgage servicing portfolios. One recent transaction involves a $500 million credit granted to loanDepot by Goldman Sachs and others.
Ginnie Mae continues efforts to provide smaller financial institutions greater access to its securitization platform, Principal Executive Vice President Sam Valverde said last month.
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