FHFA FHLB Classification Guidance. The Federal Housing Finance Agency put out guidance this week on the classification of investment securities at the Federal Home Loan Banks. It is adopting the 2013 Uniform Agreement for FHLBank supervisory purposes. Where FHFA’s rule and guidance and the 2013 Uniform Agreement may conflict, the FHFA said its rules and guidance will apply. The agreement included FHLBanks using sound and conservative assumptions as they pertain to upgrades and it provides classification approach examples that provide boundaries for upgrading classified securities. Freddie Prices $1 Billion STACR Offering. As the first out of eight Structured Agency Credit Risk offerings planned through October 2016, Freddie Mac...
Nonbank institutions continued to expand their footprint in agency mortgage servicing rights last year, thanks to both their growing share of new originations and a hefty dose of MSR transfers, according to a new Inside Mortgage Finance ranking and analysis. At the end of 2015, some $5.931 trillion of home mortgages were connected to mortgage-backed securities issued by Fannie Mae, Freddie Mac and Ginnie Mae. That was up a modest 0.8 percent from the same period back in 2014 and included a small 0.3 percent increase from the third to the fourth quarter of last year. These figures are based on agency MBS disclosures that typically vary slightly from aggregate data released by the three agencies. Nonbanks accounted...[Includes two data tables]
Ocwen, in particular, will need to tell investors exactly how they plan to become a top-10 originator, something that seems like a long shot right now...
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