Mortgage bankers of all sizes continued to report strong earnings on their mortgage banking operations during the fourth quarter of 2012, but the salad days may be over.
Most securities issuers and investors who attended this weeks American Securitization Forum ASF 2013 conference in Las Vegas were optimistic about the market. We are seeing demand that we have not seen in years, said Michael Binz, a managing director and business leader of North America ABS at Standard & Poors. Binz noted that the mood at the conference a year ago was starkly different, with fewer investors, diminishing supply and regulatory uncertainty. About 5,660 people registered to attend the conference this year, up from 5,000 last year, according to Tom Deutsch, executive director of the ASF. Deutsch noted...
The Federal Housing Finance Agency said it has settled one of its numerous lawsuits against non-agency mortgage-backed securities issuers for misrepresenting deals that were sold to Fannie Mae and Freddie Mac before the mortgage market collapse.