SEC Issues Final Rule Prohibiting Conflicts of Interest in Securitizations November 28, 2023 Brandon Ivey The rule aims to prevent issues involving securitization seen in the run-up to the financial crisis of 2008.Read More
Flagstar Sues Mortgage Lender Over Unpaid Warehouse Lines November 28, 2023 Paul Muolo According to the lawsuit, Hometown Lenders owes Flagstar Bank roughly $21 million from unpaid warehouse lines.Read More
Short Takes: MI Exempt From SEC Rule / BofA Providing Financing to Rocket / Blend Scales Back Financing / Climate Risk and Inequality November 28, 2023 Brandon Ivey and Paul Muolo Mortgage insurance linked notes will be exempt from a rule the SEC issued Monday on conflicts of interest in securitizations.Read More
Ginnie MSR Sales Increase in Third Quarter November 22, 2023 John Bancroft Lakeview Loan Servicing has been the most active bulk buyer of Ginnie MSRs, with $87.67 billion in acquisitions since the first quarter of 2022.Read More
CFPB Launches Pilot for Disclosures on Construction Loans November 22, 2023 Sam Manas The pilot was prompted by a request from the Independent Community Bankers of America.Read More
FHFA Formally Reduces Fee on Commingled Securities November 22, 2023 Dennis Hollier Several commenters argued that any capital requirement on commingled securities might interfere with the fungibility of the uniform mortgage-backed security.Read More
Fidelity the Latest Mortgage Player to be Hit With a Cyber Attack November 22, 2023 Paul Muolo In late October, mortgage lender/servicer Mr. Cooper disclosed it was the subject of a cybersecurity breach...Read More
Short Takes: Average Loan Amount Declining / Slow Recovery for Home Sales / Delinquencies Decline / Thanksgiving Break November 22, 2023 Brandon Ivey Average loan amounts on mortgage applications are coming down as the share of first-time homebuyer applicants increases.Read More
Jumbo Originations Decline in Third Quarter November 21, 2023 James Dohnert Jumbo production declined by 6.0% in the third quarter and the sector lost some market share.Read More
Modest Increase in Non-Agency MBS Issuance Expected November 21, 2023 Brandon Ivey Issuance of non-agency MBS and GSE CRT deals will increase by 9% on an annual basis in 2024, according to projections by Kroll Bond Rating Agency.Read More