The Structured Finance Industry Group released the fourth edition “Green Paper” this week as part of an effort to revive issuance of non-agency mortgage-backed securities.
Fannie Mae and Freddie Mac have sold more than 59,629 nonperforming loans with a total unpaid principal balance of $11.9 billion, through August 2016, according to a new Federal Housing Finance Agency report.
An affiliate of Bayview Asset Management is preparing to issue a unique non-agency mortgage-backed security, according to a presale report by DBRS. The firm plans to package close to 5,000 “daily simple interest” mortgages originated about 10 years ago into a $241.2 million issuance.
Rep. Jeb Hensarling, R-TX, and chairman of the House Financial Services Committee, touted the benefits of the republican’s PATH Act to create a sustainable housing finance system.
Returning appraisal regulations back to the individual states would be counterproductive, according to James Park, executive director of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. Park and other experts spoke about the need for standardization and modernization at a hearing in the House Financial Services Committee this week. “Replacing the federal system with a state-based system would confuse, not streamline,” he said, noting that the “cornucopia” of statutes and guidelines are confusing and burdensome for everyone. Bill Garber, director of government and external relations at the Appraisal Institute, agreed...
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