Independent mortgage banking firms that weren’t adequately hedged at yearend are facing minor- to moderate-sized writedowns on the value of their servicing portfolios, according to interviews conducted by Inside Mortgage Finance this week.
The Treasury Department continues to work on administrative changes for Fannie Mae and Freddie Mac that can be implemented by the Federal Housing Finance Agency, but a blueprint won’t see the light of day until sometime in the spring, if then.
A total of $223.74 billion of new non-mortgage ABS came to market in 2018, the best annual showing since the financial crisis, according to a new ranking and analysis by Inside MBS & ABS.The market faltered in the fourth quarter, however, as ABS production slumped 14.9 percent to $45.05 billion. That was the lowest quarterly output since the end of 2016. [Includes two data charts.]
Congress reportedly plans to reintroduce legislation that would restore Ginnie Mae eligibility for $100 million dollars’ worth of so-called orphan VA streamline refinance loans.
Ginnie Mae has reached the halfway mark of President Trump’s first term without a permanent leader and appears likely to remain so until after the 2020 presidential election.
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