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Home » Topics » News » Inside MBS & ABS

Inside MBS & ABS
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HUD Chief: ‘Inaction Simply Not an Option’ on GSE Reform; Rumors of a Delay?

April 23, 2014
Charles Wisniowski
Sources tracking the bill’s progress believe that if those votes cannot be lined up in time, then next week’s markup could be delayed by a few days.
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FHFA May Seek Industry Input on G-Fee Hike

April 23, 2014
Paul Muolo
In January, newly sworn-in FHFA Director Mel Watt officially delayed a GSE guaranty fee increase that had been scheduled by his predecessor Edward DeMarco.
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Pingora’s MSR Investments Top $13 Billion

April 23, 2014
Paul Muolo
Company Chief Executive Michael Lau noted that Pingora is taking in roughly $2.5 billion a month through “flow” arrangements.
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Fannie Mae and Freddie Mac Deliver ‘Scorecard’ Comments to FHFA

April 23, 2014
Paul Muolo
The score card was the brainchild of former Acting FHFA director Edward DeMarco, who is retiring from the agency at the end of April.
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Short Takes: Lenders Begin to Loosen Credit Standards? / Ellie Mae Snafu Called ‘Bizarre’ / MBA, Others Want GSE Reform Now / Applications Slump Again / Sorry, No One’s Making Mortgages

April 23, 2014
Brandon Ivey, Paul Muolo, and Charles Wisniowski
As for details, a spokesman for the company said Ellie isn’t talking about the topic at this time. In an email exchange with IMFnews, mortgage technology consultant Tony Garritano of Progress in Lending called the whole episode “very bizarre”…
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RMBS Prepays Approaching Post-Crisis Low

April 22, 2014
Thomas Ressler
The conditional prepayment rate for prime jumbo, Alt-A and subprime loans dropped to 14.7 percent, 10.3 percent and 8.8 percent, respectively, in the first quarter of 2014, according to the ratings service.
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Servicing Deal Makers Say MSR Market is Not Frozen

April 22, 2014
Paul Muolo
However, a new research report from Sterne Agee notes: “We see the DFS as the primary log jam on the servicing transfer front.”
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Short Takes: Ethos To Fund Loans in Colorado / Lawsky Wonders Aloud On Why Ocwen Does Not Love NY Realtors / Jumbo MBS Bust This Year? / Garrett Warns on CFPB / FHFA To Collect More Borrower Info

April 22, 2014
Brandon Ivey, Paul Muolo, Thomas Ressler, and Charles Wisniowski
The FHFA shortly will begin to collect additional, more specific and personal information on borrowers and loans as part of the National Mortgage Database project the agency launched with the Consumer Financial Protection Bureau.
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Mixed Trends in Mortgage Performance as Delinquencies Increase on Older Loans

April 21, 2014
Brandon Ivey
The total past-due rate on mortgages has declined in almost every quarter since the second quarter of 2011, helped by increasing home prices. However, not all vintages are performing in-step, as delinquencies are starting to increase on loans originated in 2004 and before.
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Despite Modest Rebound in Jumbo Issuance, Non-Agency MBS Starts 2014 on Life Support

April 18, 2014
The sputtering non-agency MBS market generated just $2.59 billion in new issuance during the first three months of 2014, one of the lowest quarterly marks since the market imploded in late 2007. New issuance in the first quarter was down 44.1 percent from the already-weak level in the fourth quarter of 2013, and it was off 65.6 percent from the same period a year ago. There was...[Includes two data charts]
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