The report, conducted by Alvarez & Marshall, was making the rounds in Washington Wednesday morning. John O’Neill, a managing director in the evaluation firm of Alvarez & Marsal, confirmed to IMFnews that his company conducted an evaluation on the GSEs for the Blackstone Group.
M&A specialists believe that some lenders obtain their Ginnie approvals merely for the purpose of increasing their franchise value without having solid plans to issue securities.
Richmond's mayor said the new rehabilitation program can be completed in addition to eminent domain. However, significant opposition to ED from mortgage industry participants appears to have changed how the city plans to implement its latest plan.
The only sector that has a higher securitization rate is the government-insured market, where Ginnie Mae production represented 98.5 percent of FHA and VA lending.
Servicers would face annual government certifications and biennial examinations by the new regulator/insurance fund. Minimum operational and management standards would be created for internal controls, recordkeeping, audit systems, and reporting, to name just a few.
For lenders that contribute at least 15 percent of the loans included in an issuance, Fitch said it will conduct an enhanced operational review of the lender’s origination program and underwriting guidelines.
The Fed has promised to “taper” its MBS and Treasury investments in the months ahead, but with MBS issuance on the decline because of falling originations, the central bank likely will maintain or even increase its market share of purchases.
How does the Johnson-Crapo bill favor senior preferred shareholders? The language notes that when assets in Fannie and Freddie are eventually sold, the idea is to “maximize the return for the senior preferred share-holders of the enterprises”…
Credit Suisse teamed with New Penn Financial to issue another jumbo mortgage-backed security at the end of February, the latest in a unique partnership. The $297.36 million issuance received a AAA rating with credit enhancement of 8.85 percent for the top-rated tranche. Some 13 lenders contributed to the deal, with 74.2 percent of the mortgages originated or acquired by New Penn, according to a final rating report by DBRS (no presale reports were issued). Standard & Poor’s ...
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