Mandatory risk-retention requirements will severely limit non-agency mortgage originations and securitization, according to market participants. Even portfolio originations could be hindered due to the pending rule from federal regulators. Loan availability is likely to be quite restricted in the...
Purchases of mortgage-backed securities via the Public-Private Investment Program have resulted in returns of about 27.0 percent for taxpayers, according to figures reported by the Treasury Department. However, the impressive profit is based on return on equity alone, excluding loans made to... [Includes one graph and one data chart]
While working to establish a jumbo whole loan conduit, PennyMac Mortgage Investment Trust has been able to turn profits by investing in distressed mortgages. The real-estate investment trust avoided purchases of mortgage-backed securities during the first quarter of 2011 and increased its profits due to...
The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises this week approved a mark-up of H.R. 940, the U.S. Covered Bond Act of 2011. The mark-up was approved by a voice vote, including two amendments, and is scheduled to receive consideration by the...
The consent orders agreed to recently by 14 mortgage servicers and two third-party service providers will have little impact on the servicing of FHA loans, according to compliance experts. The only areas where the orders might create additional obligations are requirements that the servicer establish a...
A provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act allowing federal agencies that insure mortgage loans to develop rules defining qualified mortgages (QM) for their loans may not be ideal for investors, according to industry attorneys. In addition to a recent Federal Reserve proposed rule on ability to repay ...
Wall Street analysts said it is unlikely banks will take losses on repurchased delinquent FHA mortgage loans, easing fears that FHA may not fully reimburse those losses due to servicing errors. Commenting on a report challenging banks policy of accruing interest on delinquent FHA loans, analysts at Keefe, Bruyette & Woods said ...
Issuers may now choose between two methods of compensating servicers of securities backed by Home Equity Conversion Mortgages under a new policy change announced recently by Ginnie Mae. The choices are either a monthly flat servicing fee of 6-to-75 basis points or ...
Ginnie Mae servicing continued to show strong growth as it posted a 4.0 percent jump in the first quarter of 2011 from the previous quarter and an overall 19.3 percent increase from the same period last year. The top 50 Ginnie servicers reported $1.11 trillion of single-family mortgage debt outstanding at the end of the... [Includes one data chart]
With the flow of new jumbo mortgage securitizations still running at a trickle, the non-agency MBS market remains dominated by resecuritization deals that face new regulatory hurdles ahead. New issuance of non-agency MBS dropped...[Includes four data charts]