The liquid assets required of nonbank seller/servicers will rise from 3.5 basis points to 4.0 bps for the unpaid principal balance of their enterprise servicing.
SIFMA said the Ginnie-like market structure proposed by FHFA isn’t appropriate for conventional MBS. Moreover, the plan doesn’t address the continued misalignment of MBS issued by Fannie and Freddie.
Affordable housing advocates say a high concentration of ownership by private equity firms makes residents of manufactured home communities vulnerable to unsustainable increases in rent or maintenance fees.
Among the more interesting changes: the FHFA, for the first time ever, is asking GSE customers to hold capital against the dollar amount of Ginnie Mae mortgages they service: 35 basis points.