The fact that nonbanks dominate the Ginnie Mae servicing business does not rest well with some in Washington, DC. Is it time to create a backstop for the Ginnie MBS market just in case?

After receiving intense criticism and a warning from the DOJ, S&P revised a proposal for assessing risk-based capital at insurance companies. One of the changes involves MBS and ABS.

With spreads on commercial MBS at wider levels than they were during the early days of the pandemic, portfolio managers at DoubleLine Capital are looking to increase investments in the sector. They caution against painting the commercial MBS market with a broad brush.

Porsche plans a return to the ABS market after seven years and Lobel Financial issued its first ever ABS.

GSEs endorse FHFA proposal on call options for CRT; office properties drive up CMBS delinquencies; Ginnie makes appointments.

The reading for the total delinquency rate at the end of March was the lowest in the 20-year history of Inside Mortgage Finance’s large servicer delinquency index. Delinquencies are projected to increase as unemployment rises. (Includes data chart.)

A House subcommittee’s hearing this week focused on loan-level price adjustments set for the GSEs. While Republicans raised concerns with recent LLPA changes, Democrats defended the changes.

The Mortgage Bankers Association has raised concerns about GSE pricing for third-party originations in a comment letter to FHFA as the agency undertakes changes to its enterprise regulatory capital framework.

Subservicer ServiceMac stands to lose a large contract down the road once Mr. Cooper swallows the Home Point portfolio. But that’s the nature of the beast when it comes to being a third-party vendor.

The Mortgage Bankers Association has asked the CFPB to expedite changes to loss-mitigation requirements, noting that regulatory standards haven’t evolved to take into account changes in servicing practices.