Plenty of executives we’ve spoken to the past few months believe the industry is in for a considerable spate of M&A in the year ahead. Then again, we’ve heard that prediction before...
The secondary market in transfers of agency mortgage servicing rights continued to gain momentum during the third quarter of 2017 as long-time players in the mortgage industry executed plans to shift strategy. A new Inside Mortgage Trends analysis of agency mortgage-backed securities disclosures shows an estimated $150.80 billion of Fannie Mae, Freddie Mac and Ginnie Mae servicing changed hands during the third quarter. Much of the activity reflected ... [Includes three data charts]
The universe of servicing single-family home loans for Fannie Mae, Freddie Mac and Ginnie Mae continued to expand in the third quarter, but a handful of large banks wanted little to do with it. The three agencies had a combined $6.378 trillion of single-family mortgage-backed securities outstanding at the end of September, up 1.9 percent from the midway point in the year, according to a new Inside Mortgage Finance analysis of agency MBS disclosures. All three ... [Includes two data charts]
Most of the final amendments the Consumer Financial Protection Bureau made to its mortgage servicing rules kicked in late this week, and the biggest challenge firms will have to contend with is the increased complexity. In an interview this week with Inside Mortgage Finance, Nanci Weissgold, a partner with the Alston & Bird law firm in Washington, DC, highlighted which provisions took effect this week and those coming on line next spring, and what they mean for ...
Default rates could increase for certain types of MBS and ABS as some borrowers experience higher debt-to-income ratios, according to Moody’s Investors Service. The rating service pointed to new results from the Federal Reserve’s Survey of Consumer Finances conducted every three years. The survey showed a modest increase between 2013 and 2016 in the median ratio of debt payments to family incomes among debtors in the 20.0 percent to 39.9 percent income percentile ...
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