Mortgage Debt Outstanding Approaching Pre-Crash High Set Back in March 2008 December 20, 2018 John Bancroft Banks, savings institutions and credit unions held a combined $3.005 trillion of unsecuritizedsingle-family mortgages in portfolio as of Sept. 30…Read More
PRMI President and CEO Dave Zitting to Depart After Selling His Stake in the Lender December 19, 2018 Paul Muolo Founded 20 years ago, PRMI is a retail-only lender that funded $3.7 billion through the first nine months of 2018…Read More
Short Takes: Do GSE Servicers Need to Worry About Liquidity? / MF Cap Set at $35 Billion / New American Buys Minnesota Lender / Humble Beginnings / Kraninger Will Keep the CFPB Name / BoNY Mellon to Enter Non-Agency Market as Master Servicer December 19, 2018 Brandon Ivey and Paul Muolo Liquidity means access to cash – and is a chief concern of Ginnie Mae acting president Michael Bright as well…Read More
Fannie Mae Completes $11 billion CIRT Transaction December 18, 2018 Dennis Hollier Fannie Mae retains risk on the first 150 basis points of losses...Read More
ARM Share Drops in the Third Quarter December 18, 2018 Brandon Ivey The ARM share typically goes up when interest rates rise, but not this time around…Read More
Short Takes: Freddie Mac’s New CEO? / Jeb’s Last Stand? Maybe Not / A ‘Comical’ Situation / A Low Grade for Hensarling? / Fannie’s New Chairman December 18, 2018 Paul Muolo As one veteran industry lobbyist explained with a hint of ire: “You’re telling me that a bunch of lame duck Congressmen who lost an election are going to show up on the Friday before Christmas?”Read More
MBS Trading Hammered. Will the Stock Market Carnage Continue, Leading to Lower Rates? December 17, 2018 Paul Muolo The latest reading is a sign that liquidity is suffering and the creation of new agency securities is in the doldrums...Read More
Short Takes: CBO Wants to Raise G-Fees to Reduce the Federal Deficit / On-Balance Sheet GSEs or Off? / 5 to 15 Basis Points / The Cash Cows are Ready to Give Milk / It’s All About the Math December 17, 2018 Paul Muolo The Congressional Budget Office wants to hike g-fees by 5 basis points in October 2019 and then 15 basis points after 2021. Read More
Non-Agency MBS Outstanding Nears the End of an 11-Year Tunnel December 14, 2018 John Bancroft Roughly $458.6 billion of single-family non-agency MBS were outstanding at September 30, a scant 0.1 percent drop from June…Read More
FHFA’s Proposed Rule on Credit Scores a Setback for Vantage Score December 14, 2018 Dennis Hollier VantageScore is not happy with the FHFA's latest action...Read More
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