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.
S&P downgraded its ratings of a whole-business securitization from TGI Fridays, noting that cash flows are plummeting and the deal looks likely to default by early 2025.
Declining interest rates helped to boost refi originations in the third quarter. United Wholesale Mortgage more than doubled its refi business. Meanwhile, purchase-mortgage volume declined slightly. (Includes five data tables.)
The MBA is focusing on regulatory reforms to help reduce the cost of mortgages. There is also some hope that Congress will pass legislation addressing trigger leads.
MSR bids are currently largely rational, though a few packages sold in recent weeks at unexpected prices, according to Brian Simon, a managing director at Bungalow Funding.