Although agency business faltered slightly in September, Fannie, Freddie and Ginnie drove the ABS/MBS market to a whopping $542 billion in new issuance during the third quarter. (Includes three data charts.)
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Presidential candidate Elizabeth Warren has flagged concerns about the issuer-pays model used by credit rating agencies for securitized products. She said the SEC hasn’t done enough to address the conflicts of interest tied to the model.
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Some investors prefer buying non-agency mortgages via whole loan transactions rather than stocked in MBS. Whole loans offer better yields and more loan information.
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One of these days, Fannie and Freddie will need to raise capital by selling stock. Rumor has it that institutional investors are already being courted, including Berkshire Hathaway.
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The San Francisco-based lender is prepping a $200 million ABS stocked with home-equity lines of credit originated using blockchain technology.
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Economists say an increase of 1 degree Celsius in a county’s 36-month average temperature reduces the mortgage approval rate in the county by about 0.9% and the average loan amount by 6.9%.
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