At an investor conference in New York this week, officials from Wells Fargo predicted that residential originations at the bank will fall 30 percent this quarter on a sequential basis.
A compare ratio north of 150 percent will land a lender on HUD’s watch list. A ratio greater than 200 percent could result in disciplinary action and potential loss of FHA approval.
It appears the House of Representatives is giving up on GSE reform this year. However, the Senate could move forward, even though passage is considered a long shot, at best.
Nonbanks are stepping up to the plate on agency MBS. Meanwhile, a handful of large "term" loans are being put together, allowing investors to finance MSRs.
If the Federal Housing Finance Agency lowers loan limits for Fannie Mae and Freddie Mac next year, Redwood Trust says it is ready, willing and able to pick up the slack. “If that happens, Redwood will step up and fund those loans, no problem,” said Mike McMahon, managing director of the real estate investment trust, the most active jumbo MBS issuer in the non-agency market. The executive told Inside MBS & ABS that he’s certain that Redwood would have plenty of company as well. “There will be little or no disruption in the market,” he said. According to McMahon, in 2012 lenders produced...
The GSEs continued to see solid increases in purchase-mortgage business, which increased by almost 7 percent from July to August. It was the fifth straight monthly gain for the two.
Last month, senior staff from the Senate Banking Committee met with various industry “stakeholders” – including trade associations, consumer groups and academics – to hear their thoughts on housing finance reform and the fate of the GSEs.
FeatherStone Investment Group has entered the fledgling real-estate-owned-to-rental securitization sector with a new program that allows broader investor participation in the transaction. Other securitized REO-to-rental deals only pay investors coupon and principal cash flows derived from rents on the properties, the company noted. FeatherStone’s program, on the other hand, would allow investors to participate in both the immediate rental cash flow as well as the potential capital gains from the sale of the properties in the deal. FeatherStone’s deal will be financed...
RSS