Thousands of non-qualified mortgages could receive safe-harbor status three years after origination under a new “seasoning” provision proposed by the CFPB.
Servicing balance for jumbo mortgages fell in 2Q20 among a group of 30 servicers tracked by this newsletter, including the top three in the industry. (Includes data chart.)
A lack of standardized reporting is causing problems for non-agency MBS investors. In one non-QM MBS, research firm dv01 found 233 loans that had been modified while the trustee reported only 41 mods.
After increasing in March, April and May, the delinquency rate on securitized non-QMs declined in June. Now servicers are grappling with forbearance plans that are expiring.
The lack of standardization in the non-agency MBS market has raised concerns about how servicers are handling loans in forbearance. Critical details regarding loan performance are missing, according to investors.
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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