Ginnie officials meet with government and private finance entities in Taiwan and South Korea; Chase hopes to use securitization to reduce capital requirements; Fitch downgrades PacWest’s credit-risk transfer deal; KBRA gives all clear on bank exposure in non-agency MBS.
Fannie and Freddie captured a smaller share of the conventional-conforming market last year, and non-agency issuance dropped sharply in the second half. (Includes data chart.)
There were two bright spots in the first quarter: Non-agency MBS issuance rebounded strongly and ABS production saw a solid gain. But agency single-family tanked again, as did CMBS. (Includes three data charts.)
No one likes to be asked to repurchase a mortgage that’s already been securitized. But are the GSEs playing too tough on buyback requests on performing loans? The issue has reached the FHFA.
Silicon Valley Bank failed after complications involving funding provided to the bank by the Federal Home Loan Bank system and the Federal Reserve. MBS holdings also played a role in the bank’s failure.
In a new book, James Lockhart, FHFA’s first director, outlines the events leading up to the conservatorship of Fannie Mae and Freddie Mac. More than a decade later, the events and debates are still relevant.
Information technology upgrades at Ginnie Mae can play a key role in helping transform the housing ecosystem, according to the agency’s chief information officer.
The MBS held by two failed banks will soon hit the market; specified pool trades hit record level in March; Fannie increases disclosures on multifamily MBS; LIBOR to live on in synthetic form.