Green securitizations have sprouted across the structured-finance industry, sometimes impacting a transaction’s credit quality, Moody’s Investors Service said in a recent report.
The primary mortgage market’s growing reliance on purchase-money lending helped swing a little more business to correspondent lenders in the third quarter of 2018, according to an Inside Mortgage Finance ranking and analysis. [Includes four data charts.]
The proposed capital requirements for Fannie Mae and Freddie Mac aim for risk-based standards that will allow the government-sponsored enterprises – and future competitors – to earn an acceptable return while remaining strong enough to withstand severe economic downturns.
The Trump administration is reportedly eyeing Mark Calabria, who now serves as chief economist for Vice President Mike Pence, as the next director of the Federal Housing Finance Agency, a five-year post that holds tremendous power over the government-sponsored enterprises.
The FHA is calling for broader statutory authority for the Mortgagee Review Board in determining the type and amount of penalties the board can assess to strengthen lender enforcement and eliminate the need for False Claims Act cases.
New requirements from Ginnie Mae addressing counterparty risk management by issuers could wind up making the agency’s approval more valuable, while requiring more transparency about their financing of mortgage servicing rights.
Fannie Mae and Freddie Mac announced plans for uniform servicing data standards in 2012 but stopped the project the following year due to concerns from servicers already dealing with elevated delinquencies.
It remains to be seen if the Consumer Financial Protection Bureau’s controversial regulation-by-enforcement approach is as dead as the agency’s current leadership says it is, industry attorneys said.
Single-family mortgage business slowed predictably at Fannie Mae and Freddie Mac last month, although there was surprising resilience in the refinance market. [Includes two data charts.]
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