A lot of pieces have fallen into place for the scheduled June 2019 launch of the single security in the to-be-announced market, but one that hasn’t is a greenlight from the organization that sets TBA rules: the Securities Industry and Financial Markets Association.

Whole-business securitization activity has been stable in recent years as issuers and investors see benefits from the funding option.

Ginnie Mae last week issued guidance tightening requirements for entities seeking to become approved issuers, including a credit evaluation to determine their financial strength as well as a new notification requirement for subservicers.

Green securitizations have sprouted across the structured-finance industry, sometimes impacting a transaction’s credit quality, Moody’s Investors Service said in a recent report.

Servicers working with distressed borrowers now have fewer loan modification options due to higher mortgage interest rates.

New requirements from Ginnie Mae addressing counterparty risk management by issuers could wind up making the agency’s approval more valuable, while requiring more transparency about their financing of mortgage servicing rights.

Single-family mortgage business slowed predictably at Fannie Mae and Freddie Mac last month, although there was surprising resilience in the refinance market. [Includes two data charts.]

Fannie Mae’s and Freddie Mac’s loan-loss reserves could be substantially impacted by a new accounting standard that requires companies to immediately book potential losses.

In its comment letter to the FHFA, Fannie Mae suggests the rule should use original credit scores and LTV ratios, rather than mark-to-market values…

Carrington Mortgage this week announced the launch of its correspondent lending division.