On some recently issued expanded-credit MBS, servicing fees have been as low as 5 basis points. S&P and some other rating services review deals applying assumptions for higher servicing fees.
Most “involuntary loan purchases” by servicers of Fannie/Freddie single-family MBS are related to loss mitigation and loan delinquency rather than loan defects. (Includes data table.)
The Federal Housing Finance Agency in recent years has done a better job than Ginnie Mae in interagency planning for a hypothetical nonbank crisis, according to the Government Accountability Office.
A AAA-rated tranche of a commercial MBS issued after 2010 suffered losses recently, a first for the market. The Financial Stability Oversight Council said such losses are not likely to be widespread.
An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.
At the end of the year, nonbanks will be required to meet new risk-based capital requirements at Ginnie Mae. There’s some speculation that the Trump administration could reverse the rule.
Valverde leaving Ginnie; Cherry Hill ditches Middleman; mortgage rate futures planned; strong master servicer ranking for Computershare; new ETF with MBS; SFA appoints new global head of advocacy.
Issuers that show strong results from MSR hedging will receive relief from pending capital requirements. The Community Home Lenders of America said the relief will reduce risks to issuers and Ginnie.
Initial estimates on Hurricane Helene’s impact; Ginnie to host summit with a focus on nonbanks; MSR financing securitization from Freedom; T-Mobile moves forward with cell phone financing ABS.
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