Interest rate cuts by the Fed prior to the 2023 banking crisis resulted in more than $2 trillion in mark-to-market losses on banks' Treasury and MBS holdings.
Most REITs reported substantial increases in their agency MBS holdings during the third quarter, although a few firms pulled back. Non-agency MBS were up slightly; MSR declined.
An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.
New capabilities added to Freddie Mac’s basic ML-deal will allow corporate CUSIPs to be converted to municipal CUSIPs without impacting the tax-exempt status of the securities.
Most of the banking industry’s biggest players in residential MBS reported substantial increases in the value of their holdings in the third quarter. (Includes two data tables.)
Valverde leaving Ginnie; Cherry Hill ditches Middleman; mortgage rate futures planned; strong master servicer ranking for Computershare; new ETF with MBS; SFA appoints new global head of advocacy.