The dollar volume of low-score purchase loans increased by 29.8 percent from the second to the third quarter, while total GSE purchase business went up 23.6 percent.
A federal court recently allowed asset-backed securities investors to intervene in a case brought by the CFPB against securitization trusts. Industry participants said it is an important and favorable decision for the securitization industry. Back in September 2017, the CFPB brought an enforcement action against National Collegiate Student Loan Trusts regarding certain student loan debt-collection practices. While the CFPB acknowledged that subservicers – not the trusts themselves ...
Fannie Mae’s last Connecticut Avenue Securities credit-risk transfer transaction of the year featured its first use of a structure geared toward attracting more investors. CAS Series 2018-R07, a $922 million offering, is Fannie’s first risk-transfer deal involving a real estate mortgage investment conduit (REMIC). Both Fannie and Freddie see REMICs as a key to unlocking greater participation by real estate investment trusts and offshore investors. Freddie issued its first CRT using a REMIC ...
Deal structure – everything from pre-issuance loan reviews to enforcement mechanisms when things go wrong – vary significantly in the non-agency MBS market, experts noted at the Structured Finance Industry Group’s recent residential mortgage conference in New York.
Goldman Sachs has forgiven a total of $78.7 million in principal on 746 first-lien mortgages since Aug. 1, 2018, as it neared fulfillment of a $1.8 billion consumer-relief obligation under two mortgage-related settlement agreements, according to independent monitor Eric Green.
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