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FHFA: Extensive ‘Testing’ Underway at Common Securitization Platform

November 18, 2014
Charles Wisniowski
In 2015, the team at the GSE common securitization platform will focus on implementation of the remaining software components...
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Short Takes: Obama Won’t Give Up on Killing the GSEs / Redwood Sells Debt / More Ocwen Customer Complaints / Carrington Bolts ARMs / The Return of Mike Baldwin

November 18, 2014
Brandon Ivey and Paul Muolo
Republicans have never been big fans of the GSEs and there’s plenty of Democrats who aren’t so sure about the government “guaranty” as well...
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Lower FHA Premiums? Dream On…

November 18, 2014
Paul Muolo
In a statement, Rep. Hensarling decried last year’s $1.7 billion “taxpayer-funded bailout” of the FHA.
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Brokers and Correspondents Key Players in 3Q MBS Surge

November 17, 2014
John Bancroft
Although Wells Fargo officially exited the broker market two years ago, it apparently still does a tiny amount of business through the channel.
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FHFA’s Watt Testifies Before Senate Panel This Week; FHLB Membership a Key Topic?

November 17, 2014
Charles Wisniowski
The senate panel is expected to ask questions on guaranty fees and the common securitization platform as well.
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Sources: PIMCO Invests in Nonprime Lender Citadel Servicing Corp.

November 17, 2014
Paul Muolo
According to Citadel’s website, it offers five different loan matrices, which have credit grades ranging from A down to C.
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MSR Deals Keep Coming; A $1.2 Billion Flow Deal From Phoenix

November 17, 2014
Paul Muolo
MIAC is out with a new $73 million Fannie package and MountainView and The Prestwick Group are working on transactions as well.
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Short Takes: Former FHFA Chief Blasts Mortgage Industry / Who’s Behind the HIC? / More Relief From FHA / Ocwen’s Stock Recovers Slightly / Venable Hires Ex-Hensarling Staffer

November 17, 2014
Paul Muolo and Charles Wisniowski
So, which groups are behind the "housing-industrial complex"? DeMarco isn't naming names...
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FHA’s Mutual Mortgage Insurance Fund in the Black by $4.8 Billion

November 17, 2014
George Brooks
The FHA’s annual independent actuarial review of the MMIF showed a capital reserve of 0.41 percent at Sept. 30, 2014.
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SEC Rule Ineffective Against Rating Shopping, CRAs Standing Firm on Rating Methodologies

November 14, 2014
Shopping for credit ratings is alive and well despite the laws and regulations that have been put in place to curb the practice, but so far credit rating agencies have not lowered their standards, according to Morningstar Credit Ratings. “Arrangers and issuers of structured debt continue to tightly control the selection of credit rating agencies,” Morningstar said in a recent analysis. But information quality and transparency fall short of investor expectations, and the general interests of the key stakeholders remain somewhat misaligned, the rating service said. Arrangers and issuers of residential MBS, non-mortgage ABS and commercial MBS continue...
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