Federal Reserve Vice Chair Michael Barr plans to recommend retaining capital requirements for unrealized losses on MBS held in bank portfolios. This provision was in response to the 2023 banking crisis.
A new Urban Institute paper called on policymakers to build on the Financial Stability Oversight Council’s recommendations to address liquidity vulnerabilities among nonbank Ginnie Mae issuers.
Ginnie issuers say cyber reporting standards are too onerous; SEC fines CLO manager; SEC fines rating services for inadequate recordkeeping; T-Mobile ABS sputters; DoubleLine reduces management fee.
The decline was driven by conventional-conforming mortgages and government-insured mortgages. The securitization rate for non-agency mortgages actually jumped in the first quarter. (Includes data table.)
SIFMA warned that Freddie’s proposal to acquire second liens could pose risks to the to-be-announced, credit-risk transfer and consumer-loan markets. SFA said the proposal, if approved, should be limited.
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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