Two industry sources confirmed this week that the Consumer Financial Protection Bureau will, indeed, begin examining for compliance with the integrated disclosure rule known as TRID this month.
When it comes to CFPB enforcement, analysts at Compass Point Research & Trading said in a recent client note that they expect little shift from the bureau’s current agenda.
Open Mortgage announced they have been approved as a seller with Fannie Mae, joining the likes of So-Fi, another marketplace lender which was approved as a Fannie seller/servicer in May.
Originally scheduled to be implemented the weekend of June 25, Fannie Mae announced on Friday that it is delaying the release of Desktop Underwriter Version 10.0 due to concerns that came up during the testing phase.
Fannie Mae and Freddie Mac produced $73.23 billion of single-family mortgage-backed securities in May, a solid 6.3 percent increase from April, according to a new ranking and analysis by Inside The GSEs.
The weighted average loan loss severity for U.S. commercial MBS was 49.3 percent for the 139 loans liquidated in the first three months of 2016, versus 58.2 percent for 240 loans liquidated in the last three months of 2015, which was the highest quarterly loss severity since 2010, Moody’s Investors Service said in a new quarterly report. However, “In both quarters, severities topped the weighted average of 42.8 percent for loans liquidated between Jan. 1, 2000, and March 31, 2016,” the ratings service added. The Moody’s report tracks...
The average daily trading volume in agency MBS climbed to $215.9 billion in May, the highest reading of the year, according to the Securities Industry and Financial Markets Association. But don’t get too excited. May’s activity is still below the two-year high established in January 2015 and nowhere near the peaks established back in 2008 when crumbling financial markets caused investors to go gaga for agency MBS. The relatively low daily trading volumes continue...
Borrowers have been protected from pricing swings on the back-end Connecticut Avenue Securities Structured Agency Credit Risk transactions thus far because guarantee fees on the GSEs’ mortgages are set by the Federal Housing Finance Agency.