Before the financial crisis, the “overwhelming majority” of non-agency MBS fell into the publicly registered category. But after the SEC issued wide-ranging changes to disclosure requirements in 2014, there has been no public issue of non-agency MBS whatsoever…
In the same 10-Q filing, Fannie makes it clear that it does not like one bit the prohibitions the FHFA has placed on its ability to offer volume-based pricing discounts to its seller/servicers. It also chafes at the notion of “similar restrictions" and being forced to operate a cash window for small lenders...
So now the big question: Are nonbanks really that risky when compared to depositories? A few decades ago, Congress had to bail out the savings and loan industry to the tune of $150 billion.
In case you haven’t noticed, the yield on the benchmark 10-year Treasury was at 1.86% as IMFnews went to press compared to 1.46% in early September. That’s a difference of 40 basis points…
HUD’s addendum to the Uniform Residential Loan Application form is being revised to reflect regulations, ensure accuracy of borrower information, reduce lender uncertainty and maintain FHA’s ability to enforce program requirements.