Much of the criticism from the GOP concerned the re-proposed capital rule for Fannie Mae and Freddie Mac, which will reduce the capital relief the GSEs receive for credit-risk transfers.
With revenue lower than expected due to the coronavirus pandemic, California is allowing electric utilities to use securitization to avoid sharp rate increases for customers.
Following in the footsteps of Citi and JPMorgan Chase, Wells Fargo is preparing to issue a non-qualified mortgage MBS. The bank plans to securitize small pools of its non-agency originations on a regular basis.
Facing pressure from both sides of the aisle, FHFA Director Mark Calabria said if the GSEs had come into the current crisis with sufficient capital, the adverse market fee could have been delayed for a few years.
Ultra-low interest rates are fueling both record originations and a stampede of debt offerings by mortgage firms far and wide. The latest participants: Rocket, NewRez and Fidelity National.