A federal district court in Manhattan agreed to halt legal proceedings in an investment compa-ny’s challenge of U.S. Bank’s billing practices until the primary residential MBS case involving the two parties is resolved.
S&P Global Ratings’ structured finance team sees strong growth potential for collateralized loan obligations backed by “green” assets, albeit with some challenges.
Speculation is rampant that the Trump administration will appoint a new director of the Federal Housing Finance Agency who will begin carving away chunks of the single-family mortgage business that Fannie Mae and Freddie Mac now finance in conservatorship.
Lawyers for issuers of non-agency MBS are revising deal documents and considering choosing a different state for issuance after an unfavorable ruling by the New York State Court of Appeals.
As profit margins tighten in a softening origination market, more lenders are pondering a move into correspondent purchases, especially if the company is already table-funding mortgages in the wholesale channel.
The spreads on newly issued non-agency MBS have widened in recent months, indicating weak-er demand from investors. The pricing trends follow sharp increases in issuance this year, with analysts suggesting there may not be enough investors to absorb new production.
Issuance of single-family MBS by Fannie Mae, Freddie Mac and Ginnie Mae held steady in No-vember, according to a new Inside MBS & ABS analysis of securities disclosures. [Includes two data charts.]
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