The slow-motion acquisition of mortgage insurance giant Genworth Financial by real estate and insurance conglomerate China Oceanwide got a significant nudge forward, when the Delaware insurance commissioner last month gave its final approval for the purchase.
In a report released late Thursday, the Consumer Financial Protection Bureau mulled over the future of the so-called “GSE patch,” which exempts qualified mortgages at Fannie Mae and Freddie Mac from the CFPB rules limiting debt-to-income ratios to 43 percent.
Production of new non-agency MBS fell sharply in the fourth quarter, ending a year that still set a post-crisis record for new issuance. [Includes three data charts.]
Redwood Trust is set to issue the first prime non-agency MBS the market has seen in more than a month. Issuance has all but grounded to a halt after October, but industry analysts expect more volume to flow following the Redwood deal.
Fannie Mae and Freddie Mac, scheduled to report fourth-quarter results in early February, are likely to once again show strong earnings, but the black ink likely will pale a bit from the $6.7 billion they posted (combined) in the third quarter.
Several rating services have received gentle warnings from the Securities and Exchange Commission for failing to follow policies and procedures, according to the latest annual report from the federal regulator.
Annaly Capital Management, the largest MBS investing real estate investment trust in the country, is off to a fast start in 2019, unveiling yet another offering of common stock — this one valued at $731.0 million.
Industry observers have generated a steady stream of ideas on how the agency might reform the government-sponsored enterprises administratively rather than wait for Congress.
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