The share of mortgages for investment properties in expanded-credit MBS increased during the third quarter along with average credit scores. The age of loans going into securitized deals is also rising. (Includes three data charts.)
The Conference of State Bank Supervisors said the new proposed standards for nonbank servicers will not only align with federal guidelines but also widen the net to include servicing of non-agency mortgages.
Issuance of prime non-agency MBS more than doubled in the third quarter. Thanks to new production, expanded-credit MBS remained the top source of non-agency MBS, though issuance is slowing. (Includes data chart.)
The Financial Stability Oversight Council’s review of the secondary mortgage market focused solely on the GSEs. Bottom line: Regulators endorsed con-servative capital requirements recently unveiled by the FHFA.