An earlier version of the bill that Corker tried to fast-track through the Senate did not include the prohibition on using g-fees to pay for unrelated government spending.
The congressman said the decision to sell thousands of loans at a time at sharp discounts to the highest bidder “continues to enrich Wall Street at the expense of neighborhoods and community-based organizations.”
The CHLA suggests, among other things, that the U.S. Treasury stop sweeping all GSE profits and instead put that money in a capitalization reserve account...
With mortgage debt outstanding climbing by 0.4 percent during 2Q, the share of securitized loans fell to 64 percent at June 30, the lowest level since 2012.
The supply of residential MBS in the market grew tepidly in the second quarter of 2015, but not enough to increase the overall securitization rate for home mortgages. A total of $6.335 trillion of single-family MBS were outstanding at the end of June, a slim 0.1 percent increase from the previous quarter. The supply of MBS has been bouncing slightly higher and lower over the past six quarters, without gaining much traction. With total home mortgage debt outstanding climbing by 0.4 percent during the second quarter, the share of securitized loans fell...[Includes two data tables]
Investors at the ABS East conference sponsored by Information Management Network last week in Miami largely agreed that many MBS and ABS sectors are stronger than they were before the crisis in terms of issuance and certainly in terms of performance. While the investor base for securities has declined from the boom times of 10 years ago, there are also fewer distressed sellers. “You tend to see that bonds are held in strong hands, which makes for a strong underpinning,” said Alessandro Pagani, a portfolio manager and head of securitized assets at Loomis Sayles. “It makes for a pretty good balance between supply and demand.” John Vibert, a managing director at Prudential Fixed Income, said...
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