After more than a year under President Trump, the MBS and ABS markets have seen minimal loosening of standards from federal regulators. Issuers are optimistic that reforms are coming as federal agencies have been more receptive to feedback, while investors are fighting for risk-retention requirements to be maintained.
Issuers of MBS and ABS know that the reporting of the London Interbank Offered Rate could end in 2021, but there’s no clear plan at this point for how to address the issue.
Pacific Investment Management Co. over the past few weeks has been gobbling up large portfolios of reperforming mortgage loans, winning auctions by accepting lower returns.
New York Attorney General Eric Schneiderman this week announced a $500 million settlement with Royal Bank of Scotland to resolve allegations of misconduct in the sale and issuance of non-agency MBS leading up to the 2008 financial crisis.
The White House this spring is expected to officially nominate Michael Bright, acting president of Ginnie Mae, to formally become the agency’s chief, according to industry officials
A new report from the Federal Reserve Bank of New York says the credit-risk transfer programs launched by Fannie Mae and Freddie Mac a few years ago have helped stabilize the mortgage securities market.
Issuance of non-agency mortgage-backed securities backed by non-qualified mortgages could triple this year, according to Jeremy Schneider, a senior director at S&P Global Ratings. According to Inside Nonconforming Markets, $4.08 billion of expanded credit non-agency MBS was issued in 2017, with non-QMs accounting for a large share of the issuance. Schneider and other industry participants discussed non-QMs at the SFIG Vegas conference produced by Information ...
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