Originators are constantly looking over their shoulders because loans are being re-underwritten two or three times, once by the aggregator, once by the GSEs...
Tozer believes that with depositories in control of the Ginnie market, the regulation of lender/servicers has essentially been outsourced to banking regulators who have “vast experience” in safety and soundness.
Why short Altisource? This source reasons that as real estate values continue to improve and foreclosures slow, Altisource will have less to do going forward...
SIFMA did not take a stance on whether g-fees should be adjusted up or down. Instead, the trade group stressed that it is unclear how a change to g-fees would impact non-agency activity.
The Federal Reserve’s Open Market Committee this week met Wall Street’s expectations that it will continue to plow principal payments from its holdings of agency MBS back into agency MBS until sometime after the central bank decides to raise its federal funds target range. “The timing will depend on how economic and financial conditions and the economic outlook evolve,” said the FOMC after its two-day meeting concluded Wednesday afternoon. In the meantime, the Fed’s tapering of its quantitative easing program will continue...
The non-agency MBS market remains stuck in the post-crisis doldrums, showing no signs of recovering, according to experts participating at this week’s Bipartisan Policy Center’s Housing Summit in Washington, DC. Efforts to ignite the growth in non-agency securitization channels to help reduce the government’s role in housing finance and draw back private capital have produced little result. Except for sporadic twitches, thanks to a smattering of deals backed by jumbo loans, the non-agency MBS market is barely alive, panelists said. The government, which is working to revive the non-agency market, sees...
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