SEC staff are considering revisions to a proposed rule that would prohibit conflicts of interest in the securitization market. But the agency reportedly won’t budge on some portions of the rule.
The volume of Ginnie Mae mortgage-backed securities issued last month increased slightly from April, driven by a modest uptick in FHA activity. VA deliveries to Ginnie declined in May. (Includes two data charts.)
Credit Suisse rejects bids for non-agency MBS servicing handled by SPS; SFA President Kristi Leo to depart; Ginnie sets timelines for transition away from GinnieNET; hotel operator details reasons for ceasing payments on loan in commercial MBS.
The need for Ginnie Mae nonbank issuers to have ongoing access to capital is key to their success, and that informs the agency’s approach to policy and risk management, said Ginnie President Alanna McCargo.
If the federal government doesn’t increase its debt ceiling in the near term, payments to investors in MBS and ABS will largely still continue as usual, according to DBRS. But there are significant risks in terms of borrower performance.
Ginnie Mae is expanding a working partnership with the Federal Home Loan Bank of Chicago to help spread the word about its Mortgage Partnership Finance program.
In a recent trip to Asia, Ginnie officials assured investors that the structure of Ginnie MBS will help to protect them from any potential issues tied to a possible U.S. debt default.
After receiving intense criticism and a warning from the DOJ, S&P revised a proposal for assessing risk-based capital at insurance companies. One of the changes involves MBS and ABS.
The volume of FHA loans securitized into Ginnie mortgage-backed securities grew 20.5% between March and April, to $18.39 billion. VA loan production sent to Ginnie increased at an even higher rate. (Includes two data charts.)