Big increases in securitization of office-property and industrial mortgages lifted non-agency CMBS issuance to $21.9 billion in the first quarter, a 68.6% increase from the prior period. (Includes two data tables.)
With Freddie finally increasing its STACR issuance in the first quarter, the GSEs’ slump in CRT activity could be abating. Older deals continue to be retired in a steady stream of tender offers by the enterprises. (Includes data table.)
In a ruling last week, the Third Circuit didn’t seem to agree with a district court that Commerzbank is contractually barred from bringing claims against trusts for agreements with no-action clauses.
Farmer Mac President and CEO Brad Nordholm said he expects to see more business as lenders serving the rural market seek to manage their capital efficiencies, loan and deposit growth, and liquidity needs.
Originations of purchase mortgages with primary MI coverage fell slightly in the first quarter, but the spike in refi activity, especially in the government market, more than made up the difference. (Includes four data tables.)
The guidelines lay out the process lenders must develop for borrowers to request an appraisal reassessment when they believe a valuation was inaccurate or biased.
When mortgage bankers think of megabanks selling MSRs, Wells Fargo comes to mind. But U.S. Bank is selling servicing rights as well. Its latest sale: a $15 billion package of GSE rights.