A 25-member bipartisan House group has called on the SEC to revise its proposed rule on conflicts of interest in the securitization market. The lawmakers said the SEC, in making the rule, went well beyond what was required by the Dodd-Frank Act.
Production of Ginnie Mae single-family mortgage-backed securities saw a modest increase in the third quarter. PennyMac lost some market share in the FHA program. (Includes four data charts.)
Activity in the sector is expected to pick in the coming months as DBRS is close to establishing criteria to rate securitizations of residential transition loans.
The volume of FHA loans securitized into Ginnie Mae mortgage-backed securities increased 2.3% between July and August, while VA loan production sent to Ginnie declined at a similar rate. (Includes two data charts.)