Correspondent lenders and insurers may benefit from a recent decision by the U.S. Appeals Court for the Eighth Circuit regarding indemnification for prior settlements.
After their case against the Federal Housing Finance Agency was dismissed by the U.S. District Court for Delaware in November, government-sponsored enterprise shareholders David Jacobs and Gary Hindes recently filed an appeal.
The plan of the Federal Reserve’s Open Market Committee to shrink the U.S. central bank’s huge balance sheet probably will unfold with a bit of a lag because of the uncertainty surrounding principal payments and the forward-settling nature of the to-be-announced MBS market, according to economists at the Federal Reserve Bank of New York.
Freddie Mac recently introduced a new front-end credit-risk transfer option for its Agency Cred-it Insurance Structure program, the second-largest form of its CRT activity.
Issuers of MBS and ABS are finding ways to finance their holdings of retained risk in the wake of risk-retention requirements that came into effect in 2016, according to attorneys at the law firm of Mayer Brown.
After a typical lull at the end of the year, issuance of non-agency MBS is coming fast and furious. A number of issuers are prepping deals backed by a variety of newly originated loans, including prime jumbo mortgages, expanded-credit mortgages and loans eligible for sale to the government-sponsored enterprises.
A huge rebound in securitization of credit-card receivables in 2017 helped boost the non-mortgage ABS market to a significant 21.2 percent increase in new issuance, according to a new rank-ing and analysis by Inside MBS & ABS.
Although the stars might be aligned for legislative reform of Fannie Mae and Freddie Mac this year, new developments late this week illuminate the difficulty of the task at hand.
The Federal Reserve Board last week wrapped up enforcement actions against 10 banks and im-posed fines against five of them after “sustainable improvements” in their servicing operations.
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