Perhaps the new Treasury secretary finally looked at the numbers, realizing that Fannie and Freddie – wards of the government since September 2008 – forked over roughly $20 billion to Uncle Sam…
The regulator cautioned that a large downpayment alone isn’t sufficient to prove a borrower’s ability to repay a non-QM that is based on the consumer’s assets.
The Republicans made a big splash earlier this week promoting the Hensarling bill, motivating the Democrats to employ a parliamentary ploy that has not been used in the committee in 20 years.
A lot of ABS issuers that sat out the final three months of 2016 came back to the market early this year, according to a new Inside MBS & ABS analysis and ranking. Some $53.38 billion of non-mortgage ABS were issued during the first quarter, a huge 55.9 percent jump from the previous three-month period. The market didn’t quite match the high point of last year, but issuance in the first three months of 2017 was up 23.1 percent from the same period in 2016. First-time issuers and those that didn’t issue in the fourth quarter accounted...[Includes two data tables]
Recent signs of life in the nonprime securitization market have lifted the hopes of participants from coast to coast, but a potential snafu could be in the works in the form of strong investor demand for whole loans. According to some participants, recent whole-loan bids have been as high as 104. “That’s for newly originated non-qualified mortgages,” said one manager who spoke under the condition his name not be used. The implication is...
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