Stan Kurland: “We expect to see consolidation in the mortgage market, and successful firms will be the ones that have the size, scale and technological capabilities to compete."
One large fixed income investor is working with clients now to make sure they’re prepared to invest in the new single security when it rolls out next summer. Western Asset Management is advising investors to consider aggregating their mortgage concentration and exposure limits for the uniform MBS that Fannie Mae and Freddie Mac will issue in the to-be-announced market.
The Federal Home Loan Banks may be replacing housing goals that have been in effect since 2011 with a more streamlined single goal that doesn’t set specific targets for the various categories of household income.
Borrowers with adjustable-rate and reverse mortgages may benefit significantly from the phase-out of the London Interbank Offered Rate (LIBOR), according to new research by the Urban Institute. But the news is not so good for investors.
The Mortgage Bankers Association is pressing the Consumer Financial Protection Bureau to make reform of the loan-originator compensation rule a top priority.
With refinance volume declining, interest rates rising and home price appreciation cooling off, lenders are loosening underwriting standards. The trends could lead to higher delinquency rates than the pristine performance seen after the recovery from the financial crisis, but there’s not much to worry about at the moment, according to Moody’s Investors Service.
All three of the banks that rank among the top five servicers in the residential mortgage market reported declines in their portfolios during the third quarter, according to a new Inside Mortgage Finance ranking and analysis. [Includes one data chart.]
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