MBA continues to believe that, given the lack of reserves, eventually the GSEs will need to take a draw from Treasury, said Dave Stevens.

Meanwhile, loan originations at the company inched up to $4.9 billion in 3Q from $4.8 billion in the second quarter.

Among the top ten residential lenders, CitiMortgage and Bank of America had the weakest growth rate...

Most of the participants in the housing finance industry think they are being hobbled by over-regulation, and the chief culprit is the CFPB, according to a new survey from The Collingwood Group, a consultancy in Washington, DC. Among the mortgage industry professionals surveyed, 72 percent named regulation as the top issue that is negatively affecting their origination volume. “CFPB regulation, in particular, was the most common cited source of negative influence,” Collingwood said. “Survey respondents complained that while the CFPB is generating new regulations that are designed to protect the consumer, the costs to comply with new rules result in higher rates and fees for borrowers,” according to the survey. “In many cases, well-intended regulations end up being more harmful ...

First Republic Bank has contributed at least 21.3 percent of the loans that have been included in jumbo mortgage-backed securities issued in the first nine months of this year, according to a new ranking and analysis by Inside Nonconforming Markets. The bank was identified as having contributed $2.18 billion into jumbo MBS issued in the first three quarters of 2015, including $619.19 million in the third quarter. First Republic’s contributions to jumbo MBS issued in the third quarter alone topped the contributions of any other lender in the first nine months of the year. Jumbo MBS issuers and rating services generally disclose...[Includes two data tables]

The privately held Citadel will continue to service the underlying loans.

The Highway Trust Fund reauthorization includes language that would raise GSE guaranty fees in five years.

In late December, issuers of new non-agency MBS will become subject to new risk-retention requirements. It’s not clear whether anyone will notice. The vast majority of loans securitized in jumbo MBS over the past few years meet the qualified-mortgage standard. And because federal regulators opted to synchronize the QM standard with the separate qualified residential-mortgage standard, jumbo MBS backed entirely by QMs will be exempt from the 5 percent risk-retention requirement. When the final rule came out, Redwood Trust backed...

Beach Point Capital Management early next week will issue a roughly $75 million MBS collateralized by nonprime mortgages that were originated over the past year by Citadel Loan Servicing, Irvine, CA, according to officials briefed on the transaction. As Inside MBS & ABS went to press this week, certain details on the security were beginning to leak out, including the fact that Nomura Securities “is running the book” on the deal, said one source. Wells Fargo will be the custodian and backup servicer. The privately held Citadel will continue to service the underlying loans. The yield on the private-place bond is...

Banks and nonbanks, in general, are doing a better job of servicing “challenged” mortgages and MBS these days, according to a new report from Fitch Ratings. However, concerns remain. Fitch noted that residential servicing costs “continue to rise in concert with increased compliance focus and enhanced regulatory scrutiny.” Moreover, “Higher regulatory capital requirements may become a factor too, especially for smaller servicers.” Over the past two years, Fannie Mae, Freddie Mac and Ginnie Mae have all ushered...