Most bank holdings of residential MBS are in available-for-sale accounts that require fair-value accounting, which led to a rare decline in the industry's portfolio in the first quarter. (Includes two data charts.)
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Non-QM originators are seeing better bid prices for their wares but is it enough to turn a decent profit? Or is “breakeven” the order of the day?
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Ginnie and FHFA are working together to set capital and liquidity requirements for nonbanks. Separately, Ginnie is working to allow for changes at the loan level and FHFA is considering reforms involving the Federal Home Loan Banks.
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The Mortgage Bankers Association has asked the SEC to review the margin requirements in Rule 4210, arguing that lenders use to-be-announced securities to hedge their interest rate exposure rather than for speculation purposes.
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It could be years before the Fed sells any of its holdings of agency MBS, according to John Williams, president and CEO of the Federal Reserve Bank of New York.
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Cybersecurity disclosure rules for ABS should be focused on primary servicers, the Structured Finance Association said in comments to the Securities and Exchange Commission.
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Issuing a non-agency MBS isn’t cheap; trade groups push for data, timeline if GSEs change credit scoring models; Ginnie reiterates its buyout policy.
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