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.
Demand in the secondary market for non-qualified mortgages is helping to fuel originations of the loans. Delinquencies in the sector have ticked up but aren’t yet a major concern.
Investors can’t seem to get enough non-agency MBS. Issuance is booming and demand is expected to remain elevated thanks to the outlook for interest rates, among other factors.
Rocket’s originations and secondary market sales of home equity loans are flourishing without the GSEs. It’s also not yet clear how large of a role the GSEs would have in the market for closed-end second liens.
Ginnie seeing strong demand from foreign investors; non-QM demand particularly strong in MBS market; McCargo lands at Federal Home Loan Bank of San Francisco; CMBS downgraded.
A proposal from FINRA to reduce the timeframe in which trades of MBS and ABS must be reported didn’t sit well with some industry participants, prompting the SEC to take a closer look at the proposal.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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