At least one top-five ranked residential servicer is planning to offer for sale a decent-sized package of mostly nonperforming servicing rights over the next month.
Although Fannie Mae has set purchase limits on how much production newly approved seller/servicers can sell to the GSE, Freddie Mac has shied away from such caps.
An Obama administration official stressed that the White House is working to craft a comprehensive plan for housing finance reform but wants input from industry participants.tasked with crafting a plan to reform the government-sponsored enterprises provided a strong response yesterday to criticism of the White Houses lack of progress on GSE reform.
Federal regulators faced with finalizing controversial rules on risk retention in non-agency MBS, ABS and commercial MBS transactions of the future are considering a fair-value approach instead of the controversial premium capture cash reserve account. Although no details on the proposal are available, the American Securitization Forum recently provided general views on how fair value calculations of an issuers risk-retention requirement could replace the PCCRA. The group said the change could be a significant improvement over the PCCRA, which could have wreaked havoc on the securitization market. The PCCRA, which would have required issuers to hold in reserve any premium they earned in selling assets to a securitization trust, was...