Moody’s says HAMP Replacement Program Credit Neutral for CRTs. The GSEs’ new Flex Modification foreclosure prevention program that will replace the expired Home Affordable Modification Program has a neutral credit impact on GSE risk-risk transfer deals. Moody’s said that the volume of modifications and the re-default performance under the Flex program will be comparable to modification levels and performance under the current programs. The firm also noted that the new program will not result in increased modification volume. Servicers have until Oct. 1, 2017, to implement the new program.Freddie’s Recent ACIS Transaction. Last week, Freddie Mac announced its last Agency Credit Insurance Structure of 2016 in the form of a $285 million offering. The GSE said it...
It’s been no secret in Washington financial circles that shortly after Donald Trump was elected president, the decision was made by his “team” to fire CFPB director Richard Cordray...
The GSE figures suggest that private MIs saw a measurable drop in new insurance written in the final three months of 2016, but ended the year with a significant increase in volume compared to 2015.
According to exclusive survey figures from Inside Mortgage Finance, the wholesale/broker market share increased to 10.2 percent in the third quarter, its highest reading of the year.
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