Bank and thrift MBS holdings fell by 4.6 percent during 2013, and by the end of the year, they were down 7.8 percent from the all-time high of $1.634 trillion reached at the end of March 2012.
Mortgage-industry veteran John Robbins has launched a new mortgage cooperative that plans to bundle mortgages for sale into the secondary market and eventually form a conduit through which it hopes to securitize non-QM loans. “We’re going after best execution,” Robbins told Inside MBS & ABS. Of course, the venture – aptly titled The Mortgage Collaborative – is...
The GSE chief credited Fannie’s strong performance to a wide array of factors, including improving home prices and lower delinquencies, but also tighter underwriting standards which have created a pristine book of business for the company.
According to responses from real estate agents involved in 1,401 transactions in January, some 45 percent of purchase mortgages with private MI experienced a delayed closing. And 42 percent of FHA purchase mortgages experienced a delay in closing.
Although some industry groups said it is too soon to get into another massive overhaul, others pointed to the forest of overlapping and confusing documents as a good place to start.
Although some regulators have anxiety problems with nonbank servicers, Fannie Mae apparently does not. Meanwhile, a large mortgage vendor M&A deal could be revealed late Friday.
The SEC was poised to issue a final rule with loan-level disclosure requirements for non-agency MBS earlier this month. The SFIG said it expects the SEC will issue a final rule on the so-called Regulation AB2 “in the near future.”
RSS