Fannie posted the biggest increase over April MBS volume, while Freddie lagged behind. Purchase-mortgage business is on track for another annual climb.
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ARRC publishes details on how MBS and ABS linked to LIBOR can transition to a different reference rate. The fallback language applies to newly-issued deals.
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Ginnie Mae should give way to VA if the latter implements protections substantially similar to the agency’s proposed pooling restrictions on higher-risk cash-out refinance loans, according to the Mortgage Bankers Association.
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MBS investors are keeping a close eye on the auction of Ditech Financial. The troubled nonbank is a top-ranked servicer of Ginnie Mae product. The biggest fear: The company will run out of cash.
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The regulator has overturned disciplinary sanctions levied by the Public Com-pany Accounting Oversight Board against an auditor of Thornburg Mortgage, now defunct.
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All eyes are now focused on the TBA market to see if the new single security from Freddie Mac and Fannie Mae creates the expected bump in liquidity and efficiency.
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