Browse articles from all of our Newsletters related to OCC.
March 17, 2017 - Inside MBS & ABS
Ginnie Maes outdated organizational structure and staff levels have made it difficult for the agency to properly monitor and mitigate the risk posed by the increasing number of nonbanks participating in its MBS programs, according to the Department of Housing and Urban Developments inspector general. In a recent briefing paper, HUD Inspector General David Montoya highlighted challenges Ginnie faces in monitoring nonbanks, adding that HUD is currently being audited by the IG to gauge its capacity to track and supervise nonbanks, said Montoya. Ginnie acknowledged...
March 9, 2017 - Inside Mortgage Finance
After years of confusion among servicers and borrowers, the Internal Revenue Service is getting closer to issuing guidance about how servicers should report interest to the IRS on mortgages that receive significant loan modifications. The Mortgage Bankers Association and the American Bankers Association recently submitted a joint comment letter to the agency, which announced plans to issue guidance on the matter back in December 2015. The trade groups said...
February 17, 2017 - Inside MBS & ABS
The Office of the Comptroller of the Currencys 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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