Changes to the Ginnie Mae program were included among 35 priority recommendations for fiscal 2024 from the Department of Housing and Urban Development’s Office of Inspector General.
Hybrid work environments are expected to put pressure on CMBS loans for office properties over the next two years and lead to a growing number of properties failing to refinance.
A new IRS private letter ruling outlined a case where exchange bond certificates from a REMIC or grantor trust would be considered a stripped bond under tax policy.
The repo market continues to be a source of liquidity for nonbanks with large mortgage servicing portfolios. One recent transaction involves a $500 million credit granted to loanDepot by Goldman Sachs and others.
Ginnie Mae continues efforts to provide smaller financial institutions greater access to its securitization platform, Principal Executive Vice President Sam Valverde said last month.
Morningstar places 77 commercial MBS on review for potential downgrades; Coinstar ABS face potential downgrades; Fitch sees neutral impact for airline ABS amid troubles with Boeing planes; Verizon to issue mobile device financing ABS.
What’s the latest with Ginnie’s management of $19.5 billion in HECMs under its control thanks to the failure of RMF? Hard to say. But it appears that Carrington is handling the servicing chores, possibly, through a subservicer.