Issuance of single-family agency MBS is on track to top $3 trillion this year, with Fannie and Freddie doing most of the heavy lifting. (Includes two data charts.)
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The acquisition of troubled mortgages out of Ginnie pools, with the intent of rehabbing them, was a practice dominated by commercial banks. But not anymore.
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As borrowers in prime non-agency MBS transition out of forbearance plans, investors in the deals could experience reduced cashflows due to interest shortfalls.
Various announcements by Ginnie, FHFA and the GSEs helped investors in MSRs get more comfortable in recent months. Meanwhile, use of Ginnie’s PTAP financing option remains minimal.
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The enterprise said 544 loans from uniform MBS pools and 677 loans from mega/super pools were erroneously liquidated due to a servicer’s error. Investors in the securities have the option to pursue claims.
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While Fannie began accepting single-family SOFR-indexed ARMs in Au-gust, it stopped taking LIBOR-indexed mortgages at the end of September. By the end of the year, the enterprise will no longer issue LIBOR-linked MBS.
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