The Mortgage Industry Standards Maintenance Organization released its private-label residential MBS specifications, aimed at making it easier for ratings services to review MBS.
The new connections and funding are designed to make the loan trading platform available to more sellers, particularly those that focus on agency business.
Most impacted securities have already made the transition from the London Interbank Offered Rate. S&P expects the LIBOR Act will minimize the risk on the remainder.
For the third consecutive month, mortgage credit availability declined, with some products reaching their lowest levels in a decade. It’s only expected to get worse as lenders worry about the economy.