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Volume 2017 - Number 7

February 17, 2017

OCC’s Denial of Favorable Capital Treatment for Chase Portfolio Risk-Transfer MBS May Deter Others

The Office of the Comptroller of the Currency’s denial of favorable capital treatment to a non-agency MBS issued by JPMorgan Chase last year could hinder efforts aimed at convincing banks to return to the non-agency MBS market, according to industry analysts. JPMorgan Chase issued two unique non-agency MBS last year with a total unpaid principal balance of $4.53 billion. The so-called portfolio risk-transfer deals accounted for a whopping 48.6 percent of the prime non-agency MBS issued in 2016. Chase packaged...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

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