Issuance of agency single-family MBS was up modestly in November, stemming a two-month slide in production, according to a new Inside MBS & ABS ranking and analysis.
Rep. Hensarling: “This means the government needs to be in the last-loss position, with multiple layers of private capital, as diversified as possible, stacked up before it.”
It appears that Congressional reform of the housing-finance system – and final resolution of Fan-nie Mae and Freddie Mac – is back on track with a key piece of good news for MBS investors: an ex-plicit federal guarantee on conventional product looks likely.
Panelists during a House Financial Services Subcommittee on Housing and Insurance hearing this week disagreed on the type of credit-risk sharing transfers that future MBS guarantors should use in a reformed housing-finance system.
Now comes the big question: Why is the president of the United States weighing in on a bank regulatory issue? Then again, it’s Donald Trump. Mortgage ramifications? Stay tuned…
After declining for two consecutive quarters, the delinquency rate on jumbo mortgages increased in the third quarter of 2017, according to Black Knight. Hurricanes contributed to the uptick in delinquencies, and performance in the jumbo market remains strong overall. The delinquency rate on non-agency jumbo mortgages was 1.60 percent as of the end of September, according to Black Knight. That was up from 1.49 percent in the previous quarter ... [Includes one data chart]
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