Ever since Taylor Bean & Whitaker went down in flames a few years ago, the market for loans backed by mortgage servicing rights has been dormant with the nations largest banks pulling out of the business and vowing never to return. But now that MSRs are considered a hot investment with nonbanks such as Nationstar Mortgage, Ocwen Financial and Walter Investment Management gobbling up billions of dollars in receivables the past few years and at bargain basement prices banks, Wall Street firms, and other players are eyeing the market for a major comeback. According to servicing advisors and warehouse firms, there are...
GSE MBS issuance increased in January and the most likely explanation may be new, more seller-friendly repurchase policies at Fannie Mae and Freddie Mac.
Officials at the federal agency that proposed a significant overhaul of securitization disclosures three years ago are concerned about uncertainty caused by the pending rule and its unclear when, or even if, a final rule will be issued. Troy Paredes, a commissioner at the Securities and Exchange Commission, would not comment on when the so-called Reg AB2 rule would be finalized. It may or may not get done, he said last week at the American Securitization Forums ASF 2013 conference in Las Vegas. The SEC initially proposed...