The Wells-Ocwen MSR deal is still waiting for Lawsky's green light. But when that will come is another matter...

Five Oaks plans to buy some of the subordinate tranches of the new jumbo MBS.

Pulte Mortgage will install a “modest price” adjustment on its non-QM loans.

Sources close to the matter noted that Ocwen is involved, but it’s not a trade group.

The Treasury Department will have a key role in developing a $1 billion "test" non-agency security.

The Treasury Department is considering working with an issuer to sell a non-agency MBS that would serve as a benchmark transaction, according to agency officials. The goal of the issuance is to attract investors to the sector and create a standard term sheet for issuers. “The Treasury is thinking about facilitating one or more benchmark transactions,” Michael Stegman, counselor to the Treasury Department for housing finance policy, said this week at the ABS East conference produced by Information Management Network in Miami Beach. He said...

The megabanks also decreased their use of interest rate reductions on loan modifications...

In other words, mortgage banking is now supposed to be a “sure thing” where no one – and we do mean no one – takes on risk or fails. Ever.

The Treasury Department is working on at least two initiatives aimed at boosting issuance of non-agency mortgage-backed securities, following more than four years of industry-driven reform efforts that haven’t attracted enough attention from investors. “The private-label securities market is virtually dormant,” Olga Gorodetsky, a senior policy advisor at the Treasury, said this week at the ABS East conference produced by Information Management Network in Miami Beach. The Treasury is considering working with ...

A number of steps have been taken to reform the non-agency mortgage-backed security market but more changes are necessary, according to Michael Stegman, counselor on housing finance policy to the Treasury Department. Last week at a conference hosted by the Bipartisan Policy Center, Stegman detailed regulatory changes necessary to increase activity in the non-agency MBS market along with other changes the industry can work toward. “The last remaining piece of the puzzle is putting in place ...