Between now and yearend, it should be a seller’s market for mortgage servicing rights, as long as the seller isn’t trying to unload legacy or “high-touch” product. Legacy deals – at least large ones – continue to be a non-entity in the market as buyers are focusing on smaller MSR packages tied to relatively new originations. One recent legacy deal that was scuttled entailed the sale of roughly $800 million in Ginnie Mae MSRs by Ocwen Financial. Industry advisors familiar with the situation aren’t sure why ...

Fannie Mae and Freddie Mac securitized a total of $183.17 billion of single-family mortgages during the third quarter of 2014, continuing the improving momentum from the previous period, according to a new Inside The GSEs analysis. Combined mortgage-backed securities issuance for the two GSEs rose 29.1 percent from the second quarter, marking the second straight increase from the record-low levels set during the first three months of 2014. On a year-to-date basis, GSE volume was down 53.6 percent from the first nine months of 2013.

The GSEs securitized $100.30 billion of purchase mortgages during the third quarter, a 28.3 percent sequential gain.

In the second quarter, Altisource Residential agreed to buy 4,374 nonperforming mortgages that carry an underlying collateral value of $1.23 billion.

Fannie Mae and Freddie Mac securitized a total of $183.17 billion of single-family mortgages during the third quarter of 2014, continuing the improving momentum during the previous period, according to a new Inside Mortgage Finance analysis and ranking. Combined mortgage-backed securities issuance for the two government-sponsored enterprises rose 29.1 percent from the second quarter, marking the second straight increase from the record-low levels set during the first three months of 2014. On a year-to-date basis, GSE volume was down 53.6 percent from the first nine months of 2013. Although purchase mortgages continued to provide most of the ammunition for Fannie/Freddie business, the GSEs securitized...[Includes three data charts]

Ginnie Mae is taking a closer look at change-of-control applications from issuers and servicers, according to investment banking advisors who work in mortgage industry mergers and acquisitions. “Ginnie is toughening up the change-of-control process to keep folks who got their tickets – and don’t use them – from trying to increase the value of their company in an M&A situation,” said one advisor who represents clients before the agency. He noted...

The Federal Housing Finance Agency is not on board with its Inspector General’s recommendation that the agency direct Fannie Mae and Freddie Mac to assess the cost and benefit of requiring lenders to get independent, third-party confirmation of their compliance with government-sponsored enterprise origination and servicing guidance. The IG audit noted that the Securities and Exchange Commission and the Department of Housing and Urban Development, as well as private MBS investors in the secondary mortgage market, already require annual, independent assurance of counterparty compliance. “The annual assertions and audits have helped...

However, a separate lawsuit filed by Pershing Square Capital Management in the U.S. Court of Federal Claims is unaffected by Judge Lamberth’s ruling.

The senior tranche on the Chase jumbo deal has credit enhancement of 9.90 percent.

The merger-hungry RPM Mortgage of California is the top contributor to the jumbo MBS with a 14.3 percent share.