Treasury would be barred from selling or disposing of “any senior preferred shares, any interest in the warrants, any common shares acquired upon the exercise of the warrants, or any other equity interest that were acquired pursuant to the Senior Preferred Stock Purchase Agreement.”

MGIC said the origination of such loans accelerated last summer when Fannie Mae eased guidelines on loans with 45 percent and above DTI.

The authors note that 90 percent of Fannie/Freddie MBS trading occurs in the TBA forward market.

Ginnie Mae is expanding its guidelines to clarify the amount of risk it considers acceptable for an issuer’s Ginnie mortgage servicing rights portfolio and what could happen if the issuer violates those standards. The move is part of the agency’s continuous monitoring of issuer activity and MSR portfolios to ensure they are not putting issuers, investors or the program at risk.

The rising number of conventional purchase loans with debt-to-income ratios exceeding 45 percent combined with low credit scores has prompted two private mortgage insurers to take drastic action. Mortgage Guaranty Insurance Corp. and National MI have announced they will insure loans with DTIs exceeding 45 percent only when their credit score is 700 or greater. Mark Zimmerman, MGIC’s senior vice president for investor relations, said origination of such loans took off last summer when Fannie Mae eased guidelines on loans with 45 percent and above DTI. Fannie updated Desktop Underwriter by removing offsetting and compensating factors and started accepting the loans automatically instead of by referral. Freddie Mac does not accept such loans. Zimmerman said MGIC’s new guideline applies to loans with an agency automated underwriting system response. The company’s non-agency ...

A record year in agency multifamily MBS issuance pushed the overall commercial mortgage securitization market to an all-time high in 2017, according to a new analysis by Inside MBS & ABS.

As for the FHFA position, several trade group chiefs fear that once Watt departs, the FHFA will be put in the hands of a Mick Mulvaney-type...

Residential lenders funded $1.810 trillion of home mortgages in 2017, beating expectations…

In a statement issued to Inside Mortgage Finance, Sen. Mark Warner, D-VA – a key player in the process – said he is still interested in the topic, noting the panel wants a...

The Senate Banking, Housing and Urban Affairs Committee this week continued to work on housing-finance reform legislation, with the hope that a bipartisan bill can still be cobbled together in a dysfunctional Congress. As for passage this year, that’s a different matter.