Volume 2012 - Number 5
February 3, 2012
No Major Surge Expected From Expansion Of HAMP, But Changes Will Be Positive
The Obama administration late last week announced that it is extending its Home Affordable Modification Program for another year and sweetening the inducements to get investors to agree to principal reduction loan mods. MBS analysts generally grade the changes as a positive for the non-agency MBS market, but the impact on Fannie Mae and Freddie Mac securities may depend on whether the government-sponsored enterprises agree to principal reductions. The revised HAMP program will now be available for investor-owned mortgages, and it will feature a revised debt-to-income calculation taking into...
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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.
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