Stop-advance standard for non-agency MBS under consideration; EJF Capital works with Third Coast Bank on another CRT; MISMO proposes standards for electronic HELOCs.
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.
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