loanDepot to issue its 11th mortgage warehouse securitization; Gray Media expands television securitization; Hooters bankruptcy could impact whole-business securitization.
Housing finance aficionados like the prospect of a GSE exit from conservatorship that includes the retention of the Treasury’s PSPA, especially if done in conjunction with a sovereign wealth fund.
Moody’s proposed using two home-price forecasts when assessing loans in residential MBS. Currently, the rating service uses one fairly conservative forecast for home prices.
On some recently issued expanded-credit MBS, servicing fees have been as low as 5 basis points. S&P and some other rating services review deals applying assumptions for higher servicing fees.
Securitized loans from the Federal Family Education Loan program could receive negative credit rating marks if the Department of Education is successfully dissolved by the Trump administration.
Analysts worry that FHFA’s more hands-on intervention in GSE management may hint at the return of the net worth sweep and the dashing of any hopes of an end to the conservatorships.
Nothing like a good trade war to drive down MBS values and cause interest rates to rise. Yes, some mortgage investors are nervous. Overblown? We’ll find out.
HECM loan issuers are uncertain of the timeline for Ginnie to implement HMBS 2.0 amid agency-wide staffing cuts, but are confident it retained some degree of primacy on the agency’s to-do list.