Fitch revised its outlook for Provident Funding Associates to negative due to competition in the wholesale channel but upgraded its rating of UMM’s unsecured debt. MISMO is seeking comments on tech that would help obtain MI quotes.
Moody’s is considering increasing credit enhancement requirements and capping ratings for mortgage warehouse lending securitizations that allow for “wet” loans.
Spreads on jumbo MBS widened in recent months as the supply of prime non-agency MBS surged. Redwood Trust opted for more whole-loan sales during the third quarter while JPMorgan Chase remained an active MBS issuer.
If capital and liquidity requirements for nonbank servicers are too stringent, firms could leave the business and borrowers’ costs for mortgages could increase.
JPay, a company that helps the government distribute money to people at the end of their prison sentences through debit cards, charged consumers fees to access their own money, the bureau said in its complaint.