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.
FHA and VA are calling on servicers to provide special relief to furloughed federal workers and contractors as the partial government shutdown neared a full month with no end in sight.
Delinquency rates for FHA and VA loans in Ginnie Mae mortgage-backed securities rose in the fourth quarter of 2018, but loan performance was generally stronger, according to a new Inside FHA/VA Lending analysis. [Includes four data charts.]
The Structured Finance Industry Group names Bright as president; PennyMac offers HELOCs; Annaly ups its acquisition of expanded prime/non-qualified mortgage and seasoned residential whole loans in 2018; Angel Oak establishes a bank statement review team.
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