Risk-retention requirements for the majority of MBS and ABS sectors were in effect by the end of December, and industry participants have largely adjusted to them, according to analysts. The Dodd-Frank Act generally requires sponsors of ABS, non-agency MBS and commercial MBS to retain at least 5.0 percent of each deal. The retention requirements for residential mortgages took effect at the end of 2015, though most deals have been backed completely by qualified mortgages, which makes them exempt from risk retention. Other asset types have...
The bulk of the contributions for the MBS were aggregated by Invictus’ Verus Mortgage Capital affiliate. Servicing will be handled by Specialized Loan Servicing.
The two GSEs were placed in conservatorship in September 2008 by Treasury and the Federal Housing Finance Agency. At the time, their common and junior preferred shares were considered worthless.
Six weeks into the new year and it appears that merger-and-acquisition activity in the mortgage industry is finally picking up – big time. Over the past 10 days, several – mostly “asset” related – deals have come to light, with the action being driven by private-equity money that’s backing nonbank lenders. Wall Street giant The Blackstone Group, which has a PE division, is involved as well. So far, the only depository that appears to be playing in the M&A surge is...
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