IMFnews

January 20, 2017

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The Final Tally: ABS Issuance Was Just About Flat in 2016

Santander Consumer USA was the most active issuer of vehicle ABS… Read More

Freddie Mac Talking to IRS About Tax Issues Tied to the Single Security. Is the ‘Float’ Taxable?

One issue is the tax treatment of compensation that MBS investors receive for converting legacy Freddie participation certificates… Read More

Upwards of $20 Billion in Legacy Subprime Mortgages Could be Refinanced

Black Knight studied loan-level data on outstanding mortgages to derive at its conclusion… Read More

Residential Production at CitiMortgage Down 14 Percent in 4Q16

Citigroup’s showing in originations paled in comparison to some of its megabank competitors... Read More

What We’re Hearing: Time for Steve to Talk to Mel / Going to Bed, Disappointed / The GSE Stock Bet: Buy Low, Sell High / Is Pershing Square Losing Money on the GSEs? / NAR Chief Stays Hopeful on MIP Cut

As one former GSE stock analyst told us: “There’s no way they can be privatized. To maintain an AAA rating they would need 25 percent (I’m guessing) capital to assets. Even at 5 percent there is not enough spread to earn a market return on capital.” Read More

Two Hours After Trump is Sworn In, HUD Issues Mortgagee Letter Killing the FHA MIP Reduction

Lenders interviewed by Inside Mortgage Finance were disappointed with the news that the MIP reduction would be scuttled, though some factions of the housing industry remain optimistic. Read More