The bank statement loans and TRID exceptions prompted Fitch to apply higher loss severities to the MBS, which play a role in credit enhancement levels…
SFIG Executive Director Richard Johns suggested that instead of removing requirements for risk-retention, policymakers could provide capital relief for issuers that retain risk on their securities, rewarding “good behavior.”
With Republicans now in control of the White House and both houses of Congress, Hensarling plans to make even more cuts to regulations for rating services.
The once dormant market for MBS backed by newly originated nonprime loans is beginning to pick up steam, with deals unveiled by affiliates of Angel Oak Home Loans and Galton Funding. But that’s not all. According to industry officials who work in the sector, Citadel Servicing Corp., Irvine, CA, is planning a rated security for some time in May and there’s even talk that bond investing giant PIMCO might get in on the action. Origination and investment banking sources, speaking under the condition of anonymity, told...
The regulator said in an amicus brief Wednesday that home equity investments can be considered credit and subject to Truth in Lending Act requirements.
“We’re still not at the level of profitability where we should be in home lending, just given as we continue to wind down that servicing book,” said Charlie Scharf, CEO of Wells.
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