The White House believes that the current housing finance system, where the government guarantees more than 80 percent of all mortgages through Fannie Mae, Freddie Mac and FHA, is unsustainable.
According to an IRS private-letter ruling, certain excess servicing rights would constitute a real-estate asset, and income from the spread would be treated as interest on obligations secured by mortgages on real property.
The Securities and Exchange Commission prevailed Thursday in its case against Fabrice Tourre, a former vice president at Goldman Sachs. The regulator also plans to increase enforcement against Wall Street...
Securitization of income-property mortgages declined by 7.9 percent during the second quarter of 2013, with the biggest drop coming in non-agency commercial MBS issuance, according to a new market analysis by Inside MBS & ABS. A total of $43.92 billion of commercial mortgage securities were issued during the second quarter, which still ranked as the second strongest quarter since the third quarter of 2007. For the first six months of 2013, total commercial mortgage securitization was up 78.5 percent from the same period, and the market appears likely to set another post-crash record by the time the year is over. The non-agency CMBS market has seen...[Includes one data chart]