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 it’s 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 Forum’s ASF 2013 conference in Las Vegas. The SEC initially proposed...
Federal regulators suggest that a number of changes are under consideration for risk-retention requirements initially proposed in 2011. Two changes under consideration include a revision of the qualified residential mortgage definition and a possible alternative to the controversial proposed premium capture cash reserve account. Katherine Hsu, chief of the office of structured finance in the division of corporation finance at the Securities and Exchange Commission, said federal regulators are considering changing the proposed definition for QRMs due to the recent ability-to-repay rule from the Consumer Financial Protection Bureau that set requirements for “qualified mortgages.” The QRM standards cannot be any more broad than the QM standards. Speaking at the American Securitization Forum’s ASF 2013 conference last week in Las Vegas, Hsu also stressed...
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