FHA staff had asked HPC whether a repayment plan, an informal forbearance plan or a trial payment plan would be better options for delinquent borrowers rather than a standalone partial claim.
The Department of Housing and Urban Development can and should do more to help increase the availability of personal property and mortgage loans for manufactured housing, a recent report from the Government Accountability Office said.
Ginnie boosts liquidity for issuers of MBS backed by reverse mortgages; MISMO issues dataset for information exchanges verifying veterans’ benefits eligibility; senior housing wealth grew in the second quarter; RHS extends comment period on proposed manufactured-housing updates.
Ever since the Fed started its rate-hiking cycle, the spread between interest rates on loans in agency MBS and the 10-year Treasury rate has been elevated. Prepayment risk is to blame and there’s no easy fix.
Margin calls from repo lenders are always a risk when collateral values decline, which is why MBS holders, like REITs, are under watch. The yield on the 10-year Treasury is at a 16-year high — that’s the bad news. The good news: This may be the peak of the cycle.
A new study found that an increase in days over 90 degrees has a statistically significant impact on mortgage defaults and prepayments, both of which affect yields on MBS.
NPL securitizations may help asset managers shore up their liquidity in the face of rising delinquencies on commercial MBS. While uncommon, a handful of commercial NPL securitizations were issued between 2013 and 2017.
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