Rick Jones, a longtime industry lawyer, wants commercial MBS participants to strike a grand bargain, including changes to servicing practices and moves to increase demand from investors.
Interest rate cuts by the Fed prior to the 2023 banking crisis resulted in more than $2 trillion in mark-to-market losses on banks' Treasury and MBS holdings.
DOJ sees no issues for MBS, ABS from new rule restricting foreign access to Americans’ personal data; Momnt Technologies 2023 ABS issuance facing performance issues; Redwood rebrands prime residential mortgage aggregation unit to match MBS shelf.
Agency pass-through MBS remain the most popular asset in bank holding company trading accounts, but there was a sharp increase in agency multifamily securities during the third quarter.
The securitization rate for residential mortgages hit an estimated 68.6% in the third quarter, as more conventional-conforming loans flowed into GSE MBS.
Ginnie Mae increased its employee base by 25% on an annual basis in fiscal year 2024. Still, the agency is reliant on contractors, which accounted for more than 80% of Ginnie’s expenses.
GA-based lender and servicer Groundfloor hit the ABS market for the first time by issuing a securitization with deferred payments tied to residential transition loans.
In business for 40-plus years, FCI has stuck to its knitting of servicing delinquent and nonprime product. According to management, it’s secret sauce is focusing on state-of-the-art technology, including AI.
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