Ginnie hopes to align, to the extent possible, its revised capital requirements for seller/servicers with FHFA’s standards. Industry participants are pushing for uniformity that isn’t too stringent.
S&P has proposed revisions to its criteria for judging the adequacy of risk-based capital when assessing insurers. The revision would prompt higher capital requirements for certain MBS and ABS held by insurers.
New reports from S&P and Fitch look at how home price appreciation, affordability and housing overvaluation trends, especially in certain geographic markets, might impact residential MBS.
Prime non-agency MBS issuance declined by nearly 20% on a sequential basis in the first quarter of 2022. However, loanDepot nearly doubled its activity in the market during that span. (Includes three data charts.)
Rising interest rates are leading to diminished demand for non-QM whole loans saddled with lower rates. Longer term, industry participants remain optimistic.
The Structured Finance Association has introduced a consensus-built industry guide to a new benchmark that replaces the LIBOR swap curve in fixed-rate structured finance transactions.
In the secondary market, issuers have had to deal with diminished demand for mortgage products originated prior to the recent runup in interest rates. Is the worst behind the sector?
Fannie’s CEO is set to retire. The GSE chair is departing as well; Waterfall Asset Management launches non-agency MBS with Ginnie EBOs; hurricanes impacting performance of solar ABS.