On Tuesday the Fed will hold an open meeting to discuss final rule-making tied to the Basel III accords, which affects the value of mortgage servicing rights.
During an Inside Mortgage Finance webinar on Thursday, participants from expressed frustration on the ability to get new jumbo MBS deals because of the recent rapid rise in rates.
The SEC will push for admissions of guilt as part of settlements of lawsuits it files against private industry, including participants in the MBS market.
It appears that Cerberus is going down the mortgage aisle one more time. Let's hope it doesn't end like GMAC. Meanwhile, jumbo MBS market seizes up, temporarily.
Over the past two weeks, mortgage lenders have seen their application volumes and origination pipelines get whipsawed by rising interest rates. But it’s not the run-up in rates, per se, that set off alarm bells in the industry. It’s how fast rates climbed. As Inside Mortgage Finance went to press this week, the yield on the benchmark 10-year Treasury was at roughly 2.60 percent. On a historical basis, that’s an attractive rate – and as many lenders have pointed out: consumers can still obtain a 30-year fixed-rate conventional loan at 4 percent, depending on the points paid. But a month ago, the 10-year Treasury was...
Implementation of state-specific servicing standards like California’s would impose "divergent and conflicting standards" that will add costs to future home buyers and create confusion, said one MBA official.
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