Attorneys for a group of Fannie Mae and Freddie Mac shareholders seeking to overturn the net worth sweep will take another swing at the Fifth Circuit Court of Appeals.
A tough beginning to 2023 for non-QM lenders and securitizers? It looks that way, but the irony is that money managers, insurance companies and others continue to have a strong appetite for yield.
Kroll Bond Rating Agency expects single-borrower/large loan volume to decrease, while Moody’s said interest rates, lower prepayment rates, fewer property acquisitions and limited loan maturities will weigh on issuance.
In the lame duck session, Congress managed to pass a spending bill with funding for FHA IT modernization. A separate bill updating standards for VA appraisals also made it to President Biden’s desk.
Divided leadership in Congress means bipartisanship will be required to get bills to President Biden’s desk. Not many mortgage-related bills are expected to make it that far in the next two years.
The mortgage servicer reached a relatively modest settlement with the Massachusetts Attorney General’s Office to resolve alleged violations of mortgage servicing and debt collection regulations.