Dennis Hollier

CRT Investors Could See Losses

April 23, 2020

Some credit-risk transfer deals explicitly exempt forbearance losses due to natural disasters. Freddie Mac clarified that it considers the coronavirus a natural disaster. Fannie Mae has yet to provide guidance.

FHLBanks to Accept PPP Loans as Collateral

April 23, 2020

Dennis Hollier

The Division of FHLBank Regulation’s decision to accept PPP loans as collateral is based on the Small Business Administration’s 100% guarantee of the unpaid principal balance.

Industry Outraged at FHFA Over LLPAs on Forbearance Loans

April 23, 2020

Paul Muolo and Dennis Hollier

Mortgage bankers have been clamoring for liquidity help from the FHFA. This week, the agency delivered on the issue of the GSEs buying COVID-19-related forbearance loans, but then lenders read the fine print.

Fannie, Freddie and Falling Forecasts

April 23, 2020

Dennis Hollier

Economists at Fannie and Freddie are “relatively optimistic” about mortgage originations in 2020, despite the economic impact of COVID-19. But not if social distancing remains in place beyond May.

What Happens After Forbearance Ends?

April 23, 2020

Dennis Hollier

Regulators have acknowledged that the lack of legal clarity and the speedy implementation of the new forbearance requirements may set the stage for exploitation by unscrupulous or ill-informed servicers.

Credit Box Shrinking Amid (Growing) Forbearance Risk

April 22, 2020

Dennis Hollier

When the going gets tough, the tough tighten their underwriting standards...

GSEs May Soon Purchase Loans in Forbearance

April 21, 2020

Dennis Hollier

Of course, early this spring, the FHFA, in trying to aid consumers economically impacted by the pandemic, requested that servicers provide forbearance.

Still Undecided: Liquidity for MBS Servicers. More Appeals Made to the Fed, Treasury…

April 17, 2020

Paul Muolo and Dennis Hollier

Another day goes by, and more pleas to Uncle Sam to fix the MBS liquidity problem. What will it take?

The Fate of MBS Servicers Remains Undecided. Hope for Non-QM?

April 16, 2020

Paul Muolo and Dennis Hollier

When it comes to pandemic-related bailouts, the Fed is running the table. But the mortgage industry would like to hear something concrete on servicer liquidity.

Fed Moderates MBS Purchases as REITs Stabilize

April 16, 2020

Dennis Hollier

In the five weeks since March 16, the Fed has purchased a net of $486 billion in agency MBS.

Dennis Hollier

ARTICLES

CRT Investors Could See Losses

FHLBanks to Accept PPP Loans as Collateral

Industry Outraged at FHFA Over LLPAs on Forbearance Loans

Fannie, Freddie and Falling Forecasts

What Happens After Forbearance Ends?

Credit Box Shrinking Amid (Growing) Forbearance Risk

GSEs May Soon Purchase Loans in Forbearance

Still Undecided: Liquidity for MBS Servicers. More Appeals Made to the Fed, Treasury…

The Fate of MBS Servicers Remains Undecided. Hope for Non-QM?

Fed Moderates MBS Purchases as REITs Stabilize

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