The New York State Court of Appeals on Feb. 15 issued mixed rulings on two claims brought by a trustee against a seller and sponsor of three residential MBS trusts.
The Federal Housing Finance Agency last week issued its final rule on the uniform MBS, the single security that Fannie Mae and Freddie Mac will package and sell. Its success, though, may depend on the much-contested definition of the rule: What are “covered programs, policies or practices”?
Industry participants see promise in credit-risk transfer transactions beyond the government-sponsored enterprises, with possible markets developing involving Ginnie Mae, banks, credit cards and auto loans.
New production of agency single-family MBS fell for the sixth month in a row in Febru-ary, sinking to the lowest monthly output in nearly five years. [Includes two data charts.]
Despite hefty declines in their sales volume last year, Wells Fargo and PennyMac continued to rank as the top sources of third-party originations in agency mortgage-backed securities. [Includes one data chart]
A disparity between black and white homeowners regarding the value of their homes is making the racial wealth gap much worse, according to a new study from the Urban Institute.
The mortgage market expects output to be flat this year, but digital mortgage lender Better.com said it could double its production to $2.5 billion. “We did about $1.3 billion last year, which is three times what we did in 2017,” the company’s President Jerry Selitto said.
In a lackluster market amid rising interest rates and limited inventory, advisory firm Strategic Mortgage Finance Group has advice on how mortgage lenders can remain profitable.
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