CEO of GSE Single-Security Platform to Depart August 8, 2019 Dennis Hollier and Paul Muolo David Applegate is stepping down as CEO of Common Securitization Solutions, the platform that launched the uniform MBS. Read More
Mortgage Servicers at Bottom End for Customer Satisfaction August 8, 2019 Dennis Hollier A recent study used six factors to rank the nation’s 30 largest mortgage service companies. The results aren’t pretty.Read More
CEO of GSE Single-Security Platform to Depart, No Specific Date Provided August 8, 2019 Dennis Hollier CSS has retained Spenser Stuart – a talent vendor frequently used by Fannie – to conduct an executive search.Read More
Uniform MBS Trading Volumes High August 8, 2019 Dennis Hollier An Urban Institute paper says the successful launch of the single security paves the way for housing-finance reform.Read More
Short Takes: Fannie Mae Warns of a ‘Draw’ From Treasury / Blame CECL / Ginnie Places Restrictions on Cash-out Refis of VA Loans / Blank Rome Hires Industry Veteran Samlin August 1, 2019 Paul Muolo and Dennis Hollier Ginnie Mae is turning off the spigot on refinances of high LTV mortgages guaranteed by the VA...Read More
The GSE Patch Will Expire in 17 Months. Time to Worry? August 1, 2019 Dennis Hollier Changes to the QM-rule will likely impact Fannie and Freddie profits, but market participants say we still don’t know how, or how much.Read More
Non-Prime, Non-QM Issuance May Exceed 20% of RMBS Market August 1, 2019 Dennis Hollier Non-prime, non-QM collateral may be higher quality than crisis era, but the absence of current data makes the analysis difficult.Read More
Freddie/Fannie Post Strong 2Q19 Earnings August 1, 2019 Dennis Hollier Low interest rates and a growing refi market helped Fannie Mae and Fred-die Mac post robust earnings. The GSEs expect to send a combined $5.2 bil-lion to Treasury as dividend. Read More
A Sweet $3.4 Billion Profit for Fannie; Dividend Payment Expected? Indeed August 1, 2019 Dennis Hollier Fannie has paid Treasury a stunning $181.4 billion in dividends to the U.S. Treasury compared to cash draws of $119.8 billion...Read More
Short Takes: Give Up Fannie and Freddie? / Why Would You? / $8 Trillion in UMBS Trades / The ‘Transition’ Tax / On a Tear, UWM Buys an Office Building / CSBS Taps Dallas Fed Economist July 31, 2019 Paul Muolo and Dennis Hollier One potential solution to the nation’s huge deficits: a transition tax on trades of stocks and bonds, including MBS...Read More