Nationstar appears to be the winning bidder on the Taylor Bean & Whitaker MSR pacakge. Meanwhile: Ed DeMarco, the most powerful man in mortgage finance today?
Credit Suisse issued a $422.2 million non-agency jumbo mortgage-backed security last week with some of the loans in the private placement sourced from Two Harbors Investment. Two Harbors a real estate investment trust that has been working to issue its own non-agency MBS for more than a year is also expected to be the initial investor in the subordinate tranche of the MBS. CSMC Trust 2013-TH1 received AAA ratings from DBRS, Fitch Ratings and Standard & Poors, with 7.05 percent credit enhancement ...
Fannie Mae and Freddie Mac will make a number of efforts to increase the market share for the non-agency market in 2013, according to Edward DeMarco, acting director of the Federal Housing Finance Agency. In a speech this week, he said guaranty fees on agency mortgages will continue to increase, the government-sponsored enterprises will complete significant risk-sharing transactions, and they will continue to work on a securitization platform and contractual frameworks that could be used for ...
Conforming loan limits should be lowered to help draw private capital into the mortgage market, according to recommendations from a bipartisan think tank led by former policymakers. The Bipartisan Policy Center recommended phasing out the government-sponsored enterprises and replacing them with a new Public Guarantor that would shift mortgage finance risk to the private sector. A gradual reduction of the loan limits for government-guaranteed mortgages would help to rebalance the ...
Fannie Mae and Freddie Mac have been content to let their significant holdings of non-agency mortgage-backed securities run off in recent years as opposed to selling the investments at a loss. However, the government-sponsored enterprises will likely have to sell some of their vintage non-agency MBS due to a mandate from the Federal Housing Finance Agency. A set of goals for the GSEs in 2013 released this week by the FHFA includes reducing the GSEs retained portfolio balances by selling 5 percent of the assets ...