Risk weights established by the Basel Committee on Banking Supervision for holdings of securitized assets won’t have much of an impact on U.S. banks, according to analysts at Barclays Capital. It’s unclear which banks the risk weights will be applied to and many U.S. banks have transitioned to similar methods to evaluate capital requirements for their holdings of MBS and ABS. The BCBS issued a revised framework for calculating risk weights on banks’ securitization exposures in December. The framework is set to take effect in certain countries beginning in 2018. It was issued to address concerns that banks were holding insufficient capital for certain securitized assets and to reduce the reliance on external ratings to derive securitization risk weights. Barclays said...
The Federal Housing Finance Agency will unveil nonbank capital guidelines for servicers by mid-year. Also on the docket: Changes to loan level price adjustments..
The layoffs “were in various departments and locations, but the majority of them were in corporate (administrative) departments at our headquarters,” spokesman for the company told IMFnews.
Ocwen’s plan to sell roughly $182 billion of agency servicing rights may have gone up in smoke this week after it was revealed that the California Department of Business Oversight could pull its mortgage licenses in the state. One servicing advisor, requesting anonymity, said the nonbank’s latest run-in with regulators “effectively put an illiquid label on all of their servicing rights.” Another advisor suggested...
Marc Savitt, president of the National Association of Independent Housing Professionals, pointed to a flaw in the beta version of Rate Checker: it doesn't show the annual percentage rate.
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