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Senate Banking Chair Urges Watt and Treasury to End GSE Conservatorships

November 19, 2014
Paul Muolo
The two GSEs have been in conservatorship for six-plus years now, with no legislative solution to their future in sight.
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Short Takes: Any G-Fee News? No / Keeping an Eye on MSR Sales / Why Realtors Will Live Forever / California Home Sales Nothing Special / Jeb Will be Back, Hensarling At Least

November 19, 2014
George Brooks, Paul Muolo, and Charles Wisniowski
After a servicing sale closes, the GSEs must monitor each transaction to make sure the transfer of receivables took place in a timely manner and more…
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Cerberus-Backed FirstKey to Issue its First Jumbo MBS

November 18, 2014
Brandon Ivey
The top contributor to the new jumbo MBS from FirstKey is CMG Financial with a 13.8 percent share. Cornerstone, Bank of Internet and Impac also provided product.
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FHFA: Extensive ‘Testing’ Underway at Common Securitization Platform

November 18, 2014
Charles Wisniowski
In 2015, the team at the GSE common securitization platform will focus on implementation of the remaining software components...
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Short Takes: Obama Won’t Give Up on Killing the GSEs / Redwood Sells Debt / More Ocwen Customer Complaints / Carrington Bolts ARMs / The Return of Mike Baldwin

November 18, 2014
Brandon Ivey and Paul Muolo
Republicans have never been big fans of the GSEs and there’s plenty of Democrats who aren’t so sure about the government “guaranty” as well...
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Brokers and Correspondents Key Players in 3Q MBS Surge

November 17, 2014
John Bancroft
Although Wells Fargo officially exited the broker market two years ago, it apparently still does a tiny amount of business through the channel.
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FHFA’s Watt Testifies Before Senate Panel This Week; FHLB Membership a Key Topic?

November 17, 2014
Charles Wisniowski
The senate panel is expected to ask questions on guaranty fees and the common securitization platform as well.
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Short Takes: Former FHFA Chief Blasts Mortgage Industry / Who’s Behind the HIC? / More Relief From FHA / Ocwen’s Stock Recovers Slightly / Venable Hires Ex-Hensarling Staffer

November 17, 2014
Paul Muolo and Charles Wisniowski
So, which groups are behind the "housing-industrial complex"? DeMarco isn't naming names...
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FHA’s Mutual Mortgage Insurance Fund in the Black by $4.8 Billion

November 17, 2014
George Brooks
The FHA’s annual independent actuarial review of the MMIF showed a capital reserve of 0.41 percent at Sept. 30, 2014.
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SFIG Releases Second Round of Consensus Standards Aimed at Restoring Confidence in Non-Agency RMBS

November 14, 2014
As part of its RMBS 3.0 initiative, the Structured Finance Industry Group this week released the second installment of its recommended best practices for the non-agency MBS market. New and revised material was released for each of the three major “work streams” in the project, which broadly cover: representation-and-warranty issues and repurchases; due diligence, data and disclosure; and the roles of transaction parties and bondholder communications. The 54 new pages released this week bring the cumulative work to about 125 pages, including appendices. In the reps-and-warranties section, new provisions cover...
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