ARRC publishes details on how MBS and ABS linked to LIBOR can transition to a different reference rate. The fallback language applies to newly-issued deals.
Regulatory relief for banks on mortgage servicing assets doesn’t amount to much, according to industry participants. Some of them warned that banks will leave the sector due to harsh capital requirements even as regulators defended their decisions.
Homeownership rate looks likely to increase in the next 10 years though determining how many new households will need a mortgage is difficult, according to a survey conducted by the Federal Reserve Bank of New York.
A growing number of lenders are considering creating their own loan origination systems using technology from a variety of firms rather than using the traditional single-vendor LOS.