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HFSC Hearing on GSE Bill Postponed. Time is Running out for Chairman Hensarling…

December 5, 2018
Paul Muolo
Some industry lobbyists believe the Senate Banking Committee hearing on GSE pilot programs will not be held this year at all.
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Cerberus Affiliate Packages Seasoned Second Liens in Non-Agency MBS, a First for Post-Crisis Issuance

December 5, 2018
Brandon Ivey
Towd Point Mortgage Trust 2018-SJ1 is the first post-crisis non-agency MBS backed by second liens to receive a credit rating.
Read More

Short Takes: Nomura and Ditech? / Ocwen Sets a New Low / Fannie, Freddie and NPL Sales / Citadel’s Growth in Nonprime Servicing / A New Hire for Mortgage Network

December 4, 2018
Paul Muolo and Brandon Ivey
Fannie Mae and Freddie Mac continue to sell NPLs but for how long?
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With No Chance of Passage, Hensarling’s GSE Reform Bill Gets an Airing on Thursday

December 4, 2018
Paul Muolo
When the measure was first introduced, one housing lobbyist quipped: “This is like someone laying on their death after drinking and sinning and finally realizing they need to get baptized. This is not being introduced for good political reasons.”
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Warehouse Commitments Shrink as Nonbanks Struggle with Originations

December 4, 2018
Paul Muolo
Commitment levels are decent, but nonbanks just aren’t using the lines they’ve been granted.
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Short Takes: The Hearing That Keeps Getting Postponed: GSE Pilot Programs / Remembering the Financial Accomplishments of President George H.W. Bush / Too Many Servicing Workers? / Mortgage Layoffs at SoFi / Vantage Score Hires Former Fannie Executive

December 3, 2018
Paul Muolo
Under the watch of President George H.W. Bush, S&Ls were re-regulated and given a core housing mission.
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Freddie Brings Conventional Financing to New Generation of Manufactured Homes

December 3, 2018
Dennis Hollier
Although the manufactured home industry is lobbying for chattel lending, Fannie Mae and Freddie Mac still require real property for collateral.
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Prime Non-agency MBS May Plateau, Nonprime and Expanded Prime Expected to Grow

December 3, 2018
Brandon Ivey
KBRA said nonprime issuance in 2019 should benefit from an increase in origination volume and other efficiencies…
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VA Prepares to Move Against Abusive Cash-Out Refis, but Details are Light

December 3, 2018
John Bancroft
The VA notice says there are “urgent and compelling circumstances” that warrant issuing an interim final rule that will go into effect quickly.
Read More

Industry Groups Push for Full Senate Vote on Bright Nomination

November 30, 2018
A coalition of industry groups strongly urged Senate leadership to bring up Michael Bright’s nomination for president of Ginnie Mae for a vote in the full Senate.
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