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Outlook for Prime Non-Agency MBS Tied to GSE Pricing, Tools

December 17, 2018
Brandon Ivey
With Mel Watt’s term as FHFA director ending in early January, a new director appointed by President Trump is widely expected to take actions to reduce the GSEs’ footprint…
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Ginnie Stats Reveal Sharp Increase in FHA Risk Layering Over Two Years

December 17, 2018
John Bancroft
Loans with DTI ratios exceeding 50 percent accounted for 29.60 percent of FHA business in Ginnie MBS during the first two months of the fourth quarter…
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MBS Trading Hammered. Will the Stock Market Carnage Continue, Leading to Lower Rates?

December 17, 2018
Paul Muolo
The latest reading is a sign that liquidity is suffering and the creation of new agency securities is in the doldrums...
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Short Takes: CBO Wants to Raise G-Fees to Reduce the Federal Deficit / On-Balance Sheet GSEs or Off? / 5 to 15 Basis Points / The Cash Cows are Ready to Give Milk / It’s All About the Math

December 17, 2018
Paul Muolo
The Congressional Budget Office wants to hike g-fees by 5 basis points in October 2019 and then 15 basis points after 2021.
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Non-Agency MBS Outstanding Nears the End of an 11-Year Tunnel

December 14, 2018
John Bancroft
Roughly $458.6 billion of single-family non-agency MBS were outstanding at September 30, a scant 0.1 percent drop from June…
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FHFA’s Proposed Rule on Credit Scores a Setback for Vantage Score

December 14, 2018
Dennis Hollier
VantageScore is not happy with the FHFA's latest action...
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Calabria Gets the Nod for the FHFA Job. Rebuilding Capital on His Agenda?

December 14, 2018
Paul Muolo
A fool’s bet: that the GSE conservatorships will end anytime soon…
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A Kinder, Gentler CFPB Under Kathy Kraninger? BCFP or CFPB?

December 14, 2018
Yemeng Yang
Kraninger said she will make a “near-term” decision on changing the agency’s name…
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What We’re Hearing: FHA Loan Limits / What a Shutdown Means / The Return of Angelo Mozilo / The Finger of Blame Points to Wall Street / New Disclosures from Ditech / A Subservicing Business Dominated by One Client

December 14, 2018
Paul Muolo
The panel Mozilo spoke on was billed: “Join two titans of the industry as they discuss the past, present and future of the mortgage industry.”
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Kraninger Signals a More Moderate Tone After Being Confirmed as CFPB Director

December 13, 2018
The Senate late last week narrowly confirmed Kathy Kraninger as director of the Consumer Financial Protection Bureau. In her first public remarks, the new director set a more moderate tone for the watchdog agency than recently departed acting Director Mick Mulvaney did during his tenure.
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