The company, a player in non-QM lending, renewed a shelf registration with the SEC but it’s unclear whether it will tap the capital markets. Meanwhile, Mr. Cooper is redeeming some notes early.
GSE recap-and-release work will generate millions of dollars in fees for the lucky advisory firms. In a few weeks, the FHFA is expected to announce its counsel.
While the Fed was shrinking its agency MBS portfolio by $54.5 billion during the third quarter, commercial banks increased theirs by $56.2 billion and money managers added $23.8 billion. (Includes two data charts.)
Issuance could increase by about 2%, helped by strong demand from investors for vehicle ABS. Loan performance, however, is expected to slip, according to industry analysts.
Fannie and Freddie are still on course to be recapped and released but fist a few things must occur: FHFA needs to create capital standards and then there's the investor road shows.
Thirteen major financial institutions have agreed to pay a combined $337 million to settle an antitrust lawsuit accusing their trading desks of engaging in a price-fixing scheme for Fannie and Freddie debt.
New York’s six-year statute of limitation for breach of rep-and-warranty claims in RMBS does not raise investor risk significantly if the deal comes with full, upfront third-party due diligence.
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