David Applegate, CEO of Common Securitization Solutions, revealed this week that the joint venture owned by Fannie Mae and Freddie Mac has finished much of the work for a major milestone in the common securitization platform. Although officials promised more information about the timeline next year, the government-sponsored enterprises’ use of the CSP – let alone the GSE single security – looks to be a ways off. At the ABS East conference produced by Information Management Network this week in Miami, Applegate said CSS has completed about 90 percent of the work required for single-class security issuance by Freddie on the CSP. Officials at CSS, the GSEs and the Federal Housing Finance Agency revealed this week that Freddie would be the first to test the system, and that Fannie would go on board at a later date, when issuance of the interchangeable single security will begin. The officials also noted...

“It’s amazing that we’re talking about this seven years after the financial crisis,” said Bob Behal, a principal and co-head of ABS/commercial MBS Investments at Vanguard Group, during this week’s ABS East conference in Miami. He was referring to the practice of rating shopping, which is a current practice, particularly in the commercial MBS market, according to a number of industry participants. A panel regarding reforms for the rating services and due diligence providers attracted a standing-room audience at the conference produced by Information Management Network. The conference was...

PHH Mortgage – which handles originations for a number of financial firms on a private-label basis – was the largest IO lender in the nation with $7.19 billion funded during the first half.

Meanwhile, there’s a school of thought that believes if and when the Fed hikes, mortgage rates will fall because it will show investors that the central bank is acting to curb inflation.

If the CEOs of Fannie and Freddie get their raises reversed, what will they do?

Officials from the Consumer Financial Protection Bureau, Wells Fargo and other industry players are set to provide an update on qualified mortgages and other CFPB initiatives...

One standout: FHA, where jumbo production soared in the second quarter, more than doubling to $6.8 billion.

loanDepot founder and CEO Anthony Hsieh is well known for starting companies, building them up and then selling them.

Under the new policy, corporations must provide the DOJ with all relevant facts about individuals involved in corporate misconduct if they hope to get leniency or credit for cooperation in the investigation.

A few weeks back when the poll was first launched the results were more optimistic, but...