Cart

Inside Nonconforming Markets

February 25, 2011

View Archived Issues

Redwood Set to Issue First New Non-Agency MBS of the Year, With Some Controversy

Redwood Trust is marketing a $296.3 million jumbo mortgage-backed security, the first non-agency MBS to be issued since the company’s similar jumbo deal last year. Officials at Redwood said they expect the transaction to close next week... Read More

GSE Reform Seen as Positive for Non-Agency MBS

The Obama administration’s proposal to reform the government-sponsored enterprises was largely endorsed by participants in the non-agency market. However, a significant resumption in the issuance of non-agency mortgage-backed securities still appears to be years away... [Includes one graph] Read More

Regulators Increasing Focus on Servicing Reform

Federal regulators are moving toward establishing national servicing standards, which could have a major impact on subprime servicers. An estimated $630.0 billion in subprime mortgages were outstanding at the end of 2010, according to a new ranking and analysis by Inside Nonconforming Markets... [includes one chart] Read More

Ocwen Still Looking to Purchase Large Portfolios

More mortgages and portfolios are available for sale now than at any other time, according to officials at Ocwen Financial. Even though the special servicer is ready to make large acquisitions, disagreements with sellers have delayed recent transactions... Read More

Federal Regulators Close to Proposing QRM Rules

Downpayment and servicing standards appear to be delaying proposed rules on qualified residential mortgages. Federal regulators hope to propose QRM standards within the next month, according to John Walsh, acting Comptroller of the Currency... Read More

Treasury Calls for Second-Lien Servicing Reforms

The Obama administration’s proposal for reform of the housing finance market included a number of proposed reforms for the servicing of second liens. The administration suggested that second liens have prevented modifications on first liens. “We should reduce conflicts of interests between holders of first and second mortgages and improve transparency for lenders and borrowers regarding the total debt secured by a given piece of property,” according to the white paper issued this month by the… Read More

Prospects for Non-Agency Buybacks Uncertain

Repurchase requests will largely be focused on non-agency mortgage-backed securities this year and beyond, though the potential liability is difficult to quantify, according to analysts. No major court decisions have been issued on the topic, causing the uncertainty... Read More

Longer Escrows Proposed for Higher-Priced Loans

The minimum period for mandatory escrow accounts for most first-lien higher-priced mortgages would be expanded from one year to five years under a proposal issued this week by the Federal Reserve. The proposal, including additional disclosures, was prompted by the Dodd-Frank Act... Read More

MERS’ Issues a Problem for Non-Agency Servicers

Servicers of non-agency mortgage-backed securities have had to adjust their processes due to legal problems experienced by Mortgage Electronic Registration Systems. Last week, MERS said it will soon propose that its members not foreclose in MERS’ name... Read More

Subprime Volume Indicators and ABX Prices

A half page of subprime data...

Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results