Ginnie to increase reporting requirements on defaults, loss mitigation; Fitch prepares to rate commercial PACE securitizations; loans for hotels near Disney World head into commercial MBS; FHA extends waiver tied to Ginnie multifamily MBS.
Banks, the largest holders of agency MBS among investor groups, aren’t expected to be big buyers this year. Money managers helped to fill the void left by banks last year, but that might not continue into 2024.
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.
Nonbanks could fund the closing of government-insured mortgages using commercial paper guaranteed by Ginnie and the loans would be pledged as collateral to the commercial paper, former Ginnie President Ted Tozer suggested.
Some 39% of the MBS and ABS issuers who participated in a Moody’s survey said they had boosted their cybersecurity spending since 2019. But still, advanced practices remained out of reach for many issuers.
Ginnie Mae eligibility requirements issued a year ago are largely set to take effect at the end of the month. Most issuers are in compliance with the standards, according to the agency.
Margin requirements for the to-be-announced market received another approval from the SEC this week. However, a legal challenge could further delay implementation.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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