GSE Seller Buybacks Tumbled to Record Low in 4Q16 February 27, 2017 John Bancroft For the full year, GSE seller repurchases totaled just $1.101 billion, a record annual low…Read More
SFIG Vegas Show Opens, Record Attendance Likely, but Plenty of Uncertainty for Non-Agency MBS Market February 27, 2017 Brandon Ivey The nonagency/nonprime MBS market is expected to get some attention at the SFIG show, but not much… Read More
Revised GOP Reform Plan Would Significantly Loosen Rules for Rating Services February 27, 2017 Brandon Ivey With Republicans now in control of the White House and both houses of Congress, Hensarling plans to make even more cuts to regulations for rating services.Read More
Trouble Ahead: Gain-on-Sale Margins Slipping February 27, 2017 Paul Muolo Piper analyst Kevin Barker and his team estimate that so far in 1Q17, the average refi volume is down 26 percent from fourth quarter levels.Read More
Incenter Selling Fannie/Freddie Mortgage Servicing Rights February 27, 2017 Paul Muolo California mortgages account for the large chunk of collateral at 41.2 percent. Texas is a distant second at 10.4 percent.Read More
Short Takes: Letting the Single-Security Flag Fly at SFIG / Lots of Emails Regarding the GSEs / $10B of GSE Preferred Sold the Year Before Seizure / Maloni Responds / Moving (In)to Montana / A New Hire for Selene February 27, 2017 Brandon Ivey and Paul Muolo Bradd Gold of Au Consulting LLC noted that in the year prior to their federal takeover, Fannie and Freddie sold $10 billion of GSE junior preferred. Read More
Redwood Earned $25 Million in 4Q, Sees Strong Jumbo MBS Pricing, Will Expand ‘Choice’ February 24, 2017 Brandon Ivey Redwood CEO Marty Hughes said pricing for jumbo MBS is currently strong, with execution on issuance better than execution for whole loan sales. Read More
Creeping Upward: The Debt Burden of FHA and VA Borrowers February 24, 2017 John Bancroft Average credit scores in the FHA program drifted slightly lower, while climbing 1.9 points for VA loans.Read More
The Time is Right for a Boom in Servicing Sales. However… February 24, 2017 Paul Muolo Meanwhile, selling Ginnie Mae receivables is still a difficult task…Read More
Looser Underwriting on Jumbos Backing Galton’s New MBS February 24, 2017 Brandon Ivey Moody’s said many of the contributors to the MBS are small, regional entities that lack the sophistication of larger, more established originators.Read More