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    <title>Mortgage Securitization Rates</title>
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      <title>House Republican&amp;#146;s Proposed Bill to Create a Post-GSE MBS Market Watched Warily as Industry Wants Details</title>
      <description>
        <![CDATA[Industry observers are warily eying the potential impact of a bill unveiled last week by a senior House Republican that aims to encourage private capital into the residential mortgage secondary market without the need for Fannie Mae or Freddie Mac. The Private Mortgage Market Investment Act, drafted by Rep. Scott Garrett, R-NJ, would create a heavily regulated mortgage-backed securities market made up solely of private entities that would function with no federal guarantee at all. Garrett, who chairs the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, said his proposal will...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190704</guid>
      <pubDate>Thu, 03 Nov 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190704-house-republican-146-s-proposed-bill-to-create-a-post-gse-mbs-market-watched-warily-as-industry-wants-details</link>
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    <item>
      <title>Rep. Garrett Aims to Create a New Private RMBS Market While Retaining Some Federal Oversight</title>
      <description>
        <![CDATA[House Republicans have already introduced a variety of separate bills to clamp down on Fannie Mae and Freddie Mac while the two government-sponsored enterprises remain in conservatorship, and a key GOP lawmaker this week introduced legislation intended to jumpstart a private MBS market to take over when the agencies are finally dissolved. The Private Mortgage Market Investment Act, drafted by Rep. Scott Garrett, R-NJ, would create a heavily regulated MBS market made up solely of private entities functioning with no federal guarantee at all. The lawmaker, who chairs the House Financial Services Subcommittee on...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190677</guid>
      <pubDate>Fri, 28 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190677-rep-garrett-aims-to-create-a-new-private-rmbs-market-while-retaining-some-federal-oversight</link>
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      <title>Industry Experts Ponder How to Preserve the Best Parts of MBS Market in a Government-Free System</title>
      <description>
        <![CDATA[Mortgage securitization experts have not yet figured out how to preserve the liquidity and consumer benefits provided by the to-be-announced agency MBS market in a mortgage finance system that doesn&#146;t have a role for government agencies. &#147;The failure of the private market has been in figuring out how to encourage a solution with less government,&#148; said Peter Nirulescu, a partner at Capital Market Risk Advisors, during a panel held by the Securities Industry and Financial Markets Association this week. Despite panelists&#146; varying perspectives, all agreed that the TBA market continued to perform robustly and any changes made to the...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190679</guid>
      <pubDate>Fri, 28 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190679-industry-experts-ponder-how-to-preserve-the-best-parts-of-mbs-market-in-a-government-free-system</link>
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    <item>
      <title>GOP Bill to Create New RMBS Market Minus GSEs</title>
      <description>
        <![CDATA[The chairman of the House subcommittee that oversees the GSEs unveiled a bill late this week that seeks to drastically overhaul the secondary mortgage market &#150; without the need for Fannie Mae or Freddie Mac.The Private Mortgage Market Act would create a heavily regulated mortgage-backed securities market consisting strictly of private entities functioning without a federal guarantee, according to Rep. Scott Garrett, R-NJ.Garrett, who chairs the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, said the goal of his legislation is to facilitate continued standardization and uniformity, ensure rule of law and provide MBS investors with the necessary transparency and standardization to ensure &#147;that a deep and liquid market develops&#148; without Fannie and Freddie. ]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190689</guid>
      <pubDate>Fri, 28 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190689-gop-bill-to-create-new-rmbs-market-minus-gses</link>
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    <item>
      <title>Securitization Players Support More SEC Disclosure In Some Cases, as Dodd-Frank Chaffing Continues</title>
      <description>
        <![CDATA[Most of the major players in mortgage securitization support some of the new disclosures floated by the Securities and Exchange Commission in its revised shelf eligibility proposed rule &#150; with a number of key changes and clarifications. Reflecting the investor&#146;s perspective, the Asset Management Group of the Securities Industry and Financial Markets Association again &#147;enthusiastically supported&#148; the SEC&#146;s proposal to mandate standardized disclosure at the asset level, believing that all of the asset-level data fields should be mandatory. &#147;Well functioning markets require the disclosure of as much relevant asset-level data as...]]>
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      <guid>http://www.insidemortgagefinance.com/articles/190636</guid>
      <pubDate>Fri, 21 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190636-securitization-players-support-more-sec-disclosure-in-some-cases-as-dodd-frank-chaffing-continues</link>
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    <item>
      <title>Senate Panel Weighs Role of 30-Year Fixed-Rate Mortgage in New Housing Finance System</title>
      <description>
        <![CDATA[&#147;Is a 30-year FRM always the best option for consumers?&#148; asked Sen. Richard Shelby at a hearing held by the Senate Banking, Housing and Urban Affairs Committee this week. The Alabama Republican was raising an issue that lies at the foundation of any new mortgage finance system the government may try to cook up. The 30-year FRM, a staple in the U.S. housing market for generations, has come to rely on the separation of credit risk and interest rate risk that results from a government-backed mortgage securitization system. &#147;Securitization by Fannie and Freddie make them possible,&#148; said John Fenton, president and CEO of Affinity Federal Credit Union. &#147;Without...]]>
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      <guid>http://www.insidemortgagefinance.com/articles/190639</guid>
      <pubDate>Fri, 21 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190639-senate-panel-weighs-role-of-30-year-fixed-rate-mortgage-in-new-housing-finance-system</link>
    </item>
    <item>
      <title>Agencies Continue Redesigning Securitization Infrastructure for a To-Be-Determined Future</title>
      <description>
        <![CDATA[Fannie Mae, Freddie Mac and Ginnie Mae dominate the mortgage market as they never have before, but all three MBS agencies are committing significant resources to overhauling their systems to prepare for an uncertain future. Freddie Mac &#147;fully gets&#148; the idea that the company does not control its future, said Ed Haldeman, CEO at the government-sponsored enterprise, during a panel session at this week&#146;s annual convention of the Mortgage Bankers Association. But reform proposals that feature multiple MBS securitizers funded with private capital, such as the one put forth by the MBA, look like &#147;a pretty decent road map to the...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190602</guid>
      <pubDate>Thu, 13 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190602-agencies-continue-redesigning-securitization-infrastructure-for-a-to-be-determined-future</link>
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    <item>
      <title>Redwood Taps Strong Originators for Jumbo MBS</title>
      <description>
        <![CDATA[Lenders looking to participate in Redwood Trust&#146;s jumbo securitization efforts must meet high standards, according to a review of the real estate investment trust&#146;s new jumbo mortgage-backed security. The major originators in the $375.2 million jumbo MBS Redwood issued last week were all considered &#147;above average&#148; by Fitch Ratings. Redwood has invested significant resources into its jumbo conduit and correspondent program in an effort to revive non-agency securitization. ...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190566</guid>
      <pubDate>Fri, 07 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190566-redwood-taps-strong-originators-for-jumbo-mbs</link>
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    <item>
      <title>Ginnie Mae to Develop Own Servicer Fee Structure</title>
      <description>
        <![CDATA[Ginnie Mae is following its own path in exploring potential changes to servicer compensation, a project that parallels the Federal Housing Finance Agency&#146;s Joint Initiative on Fannie Mae/Freddie Mac servicing compensation. As part of the FHA&#146;s effort to improve default servicing, Ginnie Mae and other government housing agencies will be working separately to develop better claims mechanisms and pooling services as well as clearer risk and warranty delineations to improve the value of securitizations, the FHFA said. In a discussion paper, the FHFA, which oversees Fannie Mae, Freddie Mac and the Federal Home Loan Banks, said ... ]]>
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      <guid>http://www.insidemortgagefinance.com/articles/190575</guid>
      <pubDate>Fri, 07 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190575-ginnie-mae-to-develop-own-servicer-fee-structure</link>
    </item>
    <item>
      <title>Can Lenders Help Underwater Borrowers By Taking a Stake in Negative Home Equity?</title>
      <description>
        <![CDATA[Debt-for-equity, a strategy commonly used in buyout deals among companies in Europe, is being floated as an idea to help underwater U.S. homeowners and the lenders avoid taking bigger losses if the mortgage ends up going to foreclosure. In a debt-for-equity arrangement, the borrower would refinance an underwater mortgage for a new loan that reflects the house&#146;s current market value as an alternative to going to foreclosure. In return for reducing the loan amount, the lender takes an equity position that allows it to share in any future house price appreciation.Proponents say...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190556</guid>
      <pubDate>Thu, 06 Oct 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190556-can-lenders-help-underwater-borrowers-by-taking-a-stake-in-negative-home-equity</link>
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    <item>
      <title>Bid to Reform Servicer Compensation in Fannie/Freddie MBS Could Become Model for Non-Agency Market</title>
      <description>
        <![CDATA[A proposal from federal regulators to change servicer compensation on future Fannie Mae and Freddie Mac MBS to a fee-for-service model could also end up addressing a major investor beef about the non-agency MBS market: poor servicing of distressed loans and misaligned interests. The Federal Housing Finance Agency this week released a discussion paper outlining a radical change from an existing system that pays Fannie and Freddie servicers a minimum servicing fee regardless of the loan status. The proposed system features a low flat fee for handling performing loans with increased compensation for...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190526</guid>
      <pubDate>Thu, 29 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190526-bid-to-reform-servicer-compensation-in-fannie-freddie-mbs-could-become-model-for-non-agency-market</link>
    </item>
    <item>
      <title>Treasury Market Practices Group Limits Scope of Fail Charges Recommendation to Pass-Thru MBS</title>
      <description>
        <![CDATA[The Treasury Market Practices Group late last week clarified its recommended fails charge trading practice for agency MBS to limit the scope to pass-throughs, where fails are most likely to happen. &#147;The agency debt and agency MBS trading practice has been updated to reflect the TMPG&#146;s recommendation that a fails charge apply to agency pass-through MBS issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae,&#148; the group said. The original recommendation was that the charge apply to agency MBS issued or backed by Fannie, Freddie and Ginnie Mae, which also issue most REMICs backed by agency pass-throughs. The TMPG has not...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190528</guid>
      <pubDate>Thu, 29 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190528-treasury-market-practices-group-limits-scope-of-fail-charges-recommendation-to-pass-thru-mbs</link>
    </item>
    <item>
      <title>FHFA, White House Seek to Gradually Increase GSE Guarantee Fees Closer to Private Market</title>
      <description>
        <![CDATA[Expect a gradual but deliberate increase in Fannie Mae and Freddie Mac guarantee fees to a level that more closely reflects what a private market would charge, the head of the Federal Housing Finance Agency announced this week. In a speech at the American Mortgage Conference in Raleigh, NC, FHFA Acting Director Edward DeMarco said that since Fannie and Freddie were placed into government conservatorship three years ago this month, the two government-sponsored enterprises have steadily increased g-fees and lessened the degree of cross subsidization in credit pricing. Yet, DeMarco noted, the GSEs&#146; current pricing for credit guarantees &#147;is...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190474</guid>
      <pubDate>Thu, 22 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190474-fhfa-white-house-seek-to-gradually-increase-gse-guarantee-fees-closer-to-private-market</link>
    </item>
    <item>
      <title>Stakeholders Oppose Scheme to Set Up a Federal Board To Choose Rating Services for Structured Finance Deals</title>
      <description>
        <![CDATA[Securitization participants and financial services providers flatly rejected a proposal to create an independent federal board that would assign credit rating agencies to initially rate non-agency MBS, ABS and other structured finance transactions. In separate comments, two industry trade groups and Fitch Rating Services opposed the proposal, which is being studied by the Securities and Exchange Commission. The Dodd-Frank Act instructs the SEC to study the concept and report back to Congress by July 2012 with its recommendations for regulatory or statutory changes. The idea of establishing a board to oversee credit rating agencies and address...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190451</guid>
      <pubDate>Fri, 16 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190451-stakeholders-oppose-scheme-to-set-up-a-federal-board-to-choose-rating-services-for-structured-finance-deals</link>
    </item>
    <item>
      <title>Late Summer Spark: Two Non-Agency MBS Transactions Rated in a Fortnight</title>
      <description>
        <![CDATA[Standard & Poor&#146;s and Fitch Ratings have announced separate ratings of two new non-agency MBS over the past two weeks, making a little noise in the long slumbering non-agency MBS market. Fitch this week released a presale report on Redwood Trust&#146;s next prime jumbo transaction, while S&P rated a securitization of seasoned subprime mortgages that drew flak because it got higher grades than the agency gave the U.S. government. The new Redwood transaction, Sequoia Mortgage Trust 2011-2, looks a lot like the company&#146;s last issuance back in February. It&#146;s backed by $375 million of squeaky-clean prime jumbo mortgages, most of which were originated by...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190452</guid>
      <pubDate>Fri, 16 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190452-late-summer-spark-two-non-agency-mbs-transactions-rated-in-a-fortnight</link>
    </item>
    <item>
      <title>Can the TBA MBS Market Survive Without a Government Guarantee?</title>
      <description>
        <![CDATA[The ongoing debate over the need for a government guarantee to sustain the benefits of the to-be-announced MBS market moved this week to the Senate Housing, Banking and Urban Development Committee, where researchers covered both sides of the issue for a group of lawmakers who aren&#146;t likely to act on their counsel any time soon. &#147;Proponents of privatization ignore that the jumbo market does benefit from a government guarantee indirectly in multiple ways,&#148; said Adam Levitin, professor of law at Georgetown University. &#147;The jumbo market has long aped the standards set by the [government-sponsored enterprises] in the conforming market, including...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190455</guid>
      <pubDate>Fri, 16 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190455-can-the-tba-mbs-market-survive-without-a-government-guarantee</link>
    </item>
    <item>
      <title>Senate Panel Still Mulling Competing Theories On Role of Government in Mortgage Finance</title>
      <description>
        <![CDATA[The Senate Banking, Housing and Urban Affairs Committee may not be moving any closer to a decision on reforming the mortgage finance system, but lawmakers should be getting well versed in the various analytic perspectives on the role of the federal government. At a hearing this week, the committee heard testimony from researchers who support winding down Fannie Mae and Freddie Mac as soon as possible and others who say private capital won&#146;t be drawn back into the system unless there is a government guarantee. &#147;There&#146;s absolutely no reason to believe that private capital would immediately step-up &#150; even if it would eventually...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190449</guid>
      <pubDate>Thu, 15 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190449-senate-panel-still-mulling-competing-theories-on-role-of-government-in-mortgage-finance</link>
    </item>
    <item>
      <title>Industry, Lawmaker Say Narrow QRM Rule Would Have Dire Results for FHA, Return of Private Capital</title>
      <description>
        <![CDATA[A Senate lawmaker and the Mortgage Bankers Association warned House lawmakers that a narrow &#147;qualified residential mortgage&#148; rule will result in overuse of the FHA program and make it more difficult for private capital to re-enter the housing finance market. Testifying before the House Financial Services Subcommittee on Insurance, Housing and Economic Opportunity last week, Sen. Johnny Isakson, R-GA, said the six federal agencies charged with crafting risk-retention requirements apparently failed to consider the impact of a narrow QRM rule on the FHA program. Isakson, who co-authored a Senate exception to...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190450</guid>
      <pubDate>Thu, 15 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190450-industry-lawmaker-say-narrow-qrm-rule-would-have-dire-results-for-fha-return-of-private-capital</link>
    </item>
    <item>
      <title>Experts: FHFA Lawsuits to Recover MBS Losses Likely  To Delay Mortgage Market&amp;#146;s Move Away From GSEs</title>
      <description>
        <![CDATA[The Federal Housing Finance Agency&#146;s legal action late last week against many of the nation&#146;s largest financial institutions on the grounds they misled Fannie Mae and Freddie Mac about the quality of subprime and Alt A MBS purchased by the government-sponsored enterprises has few positives but plenty of negative potential consequences for the market, experts say. The 17 separate lawsuits filed by the FHFA seek unspecified damages on $196 billion in mortgage securities the two GSEs purchased, mostly between 2005 and 2008. The agency conducted extensive loan-level reviews that allegedly revealed widespread discrepancies between... [Includes two pages of data]]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190409</guid>
      <pubDate>Fri, 09 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190409-experts-fhfa-lawsuits-to-recover-mbs-losses-likely-to-delay-mortgage-market-146-s-move-away-from-gses</link>
    </item>
    <item>
      <title>Agency MBS Volume Surges in August as Fannie and Freddie Activity Posts Gains</title>
      <description>
        <![CDATA[Fannie Mae, Freddie Mac and Ginnie Mae produced a total of $84.25 billion of new single-family MBS during August, a sturdy 19.8 percent jump from the previous month, according to a new analysis and ranking by Inside MBS & ABS. Although there was a brief bump higher in production in June, agency MBS issuance has generally been sliding lower since the end of 2010. The decline has corresponded to reduced production of refinance mortgages, which accounted for just 55.1 percent of new originations in the second quarter, down from 67.1 percent for all of last year. New data suggest the refi market is still struggling. Some 63.5 percent of...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190411</guid>
      <pubDate>Fri, 09 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190411-agency-mbs-volume-surges-in-august-as-fannie-and-freddie-activity-posts-gains</link>
    </item>
    <item>
      <title>Non-Agency MBS Interests Tell Lawmakers Clear, Uniform Standards Will Lure Back Wary Private Market Investors</title>
      <description>
        <![CDATA[The securitization market needs less uncertainty and a great deal more transparency in order to restore investor confidence and lure back private capital, industry executives told members of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises. Witnesses testifying before the subcommittee, which held a field hearing in New York City, said the state of the securitization market remains uncertain, not just due to government subsidies crowding out any private sector action but also because hesitant investors do not yet see much improvement in the opaque environment that led to the...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190412</guid>
      <pubDate>Fri, 09 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190412-non-agency-mbs-interests-tell-lawmakers-clear-uniform-standards-will-lure-back-wary-private-market-investors</link>
    </item>
    <item>
      <title>ASF Calls for Repurchases Instead of Retention</title>
      <description>
        <![CDATA[The American Securitization Forum positioned its new model repurchase principles as a better option to restore investor confidence in non-agency mortgage-backed securities than the risk retention required by the Dodd-Frank Act. &#147;The risk-retention rules proposed by regulators are not sufficiently tailored to different asset classes and will likely cause a host of negative unintended consequences,&#148; said Tom Deutsch, executive director of the ASF. ...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190418</guid>
      <pubDate>Fri, 09 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190418-asf-calls-for-repurchases-instead-of-retention</link>
    </item>
    <item>
      <title>HUD Weighs MBA Concerns About Forbearance Policy</title>
      <description>
        <![CDATA[The Department of Housing and Urban Development is pondering its next move after discussing with mortgage industry representatives their concerns about extending the current forbearance period for unemployed homeowners to a maximum of 12 months. HUD and FHA officials met recently with the Mortgage Bankers Association and several small mortgage servicers, which took issue with FHA&#146;s recently revised forbearance policy. HUD declined to discuss the outcome of the meeting, saying it was more about understanding the industry&#146;s concerns and discussing solutions. &#147;No decision has been made as to whether we can or will make any changes, but we are looking into the issues they have raised,&#148; said a HUD spokesman. On July 7, the FHA announced ...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190426</guid>
      <pubDate>Fri, 09 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190426-hud-weighs-mba-concerns-about-forbearance-policy</link>
    </item>
    <item>
      <title>Analysts Support Ginnie Mae&amp;#146;s Revised Buyout Policy</title>
      <description>
        <![CDATA[Recent changes to Ginnie Mae&#146;s repurchase policy are getting positive reviews from analysts. Announced on Aug. 26, the revised loan buyout policy will make it easier for servicers and issuers to buy delinquent home loans out of Ginnie Mae pools without having to wait 90 days for the loan to become eligible for repurchase. Before the change, pool repurchases were allowed only if a borrower missed three consecutive mortgage payments. Under the revised policy, issuers can buy delinquent loans out of the pool while the borrower is making partial payments under an FHA or VA trial payment plan as a prerequisite for a permanent modification. On the surface, the revised policy would appear ... ]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190429</guid>
      <pubDate>Fri, 09 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190429-analysts-support-ginnie-mae-146-s-revised-buyout-policy</link>
    </item>
    <item>
      <title>Experts Acknowledge Need for Government Role in Reinventing Mortgage Finance System</title>
      <description>
        <![CDATA[Experts agree that the federal government plays too big a role in the housing market, but panelists at a Federal Reserve conference last week said there is little consensus on how to fix it. FHA is &#147;not our silver bullet,&#148; observed Janis Bowdler, a director at the National Council of La Raza. &#147;Surely, it&#146;s stepping in while we are in a tight credit market. But it&#146;s no long-term solution.&#148; One problem with FHA is that lenders aren&#146;t required to offer it, which means entire communities are left &#147;credit-starved,&#148; Bowdler said. &#147;This leaves them in the same vulnerable position to predatory lenders that they were in five or six or 10 years ago,&#148; she...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190408</guid>
      <pubDate>Thu, 08 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190408-experts-acknowledge-need-for-government-role-in-reinventing-mortgage-finance-system</link>
    </item>
    <item>
      <title>SEC Considers Alternatives for Rule 3a-7 Exemption ABS Issuers Have From Investment Company Act</title>
      <description>
        <![CDATA[The Securities and Exchange Commission is weighing possible changes to a key rule that allows MBS and ABS issuers to avoid being classified as investment companies. Although the agency&#146;s primary focus is on whether it should ditch existing references in the exemption to credit ratings, officials are also looking at other potential changes. Rule 3a-7 was promulgated nearly 20 years ago so that asset-backed securities issuers would not be classified...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190377</guid>
      <pubDate>Fri, 02 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190377-sec-considers-alternatives-for-rule-3a-7-exemption-abs-issuers-have-from-investment-company-act</link>
    </item>
    <item>
      <title>FHFA Files Conditional Objection to BofA Deal</title>
      <description>
        <![CDATA[The Federal Housing Finance Agency this week became among the latest, most influential parties to legally weigh in on the proposed $8.5 billion Bank of America settlement over non-agency mortgage-backed securities.On Aug. 30, the deadline to file objections to the deal, the Finance Agency filed a &#147;Notice of Appearance and Conditional Objection&#148; with the U.S. District Court in Manhattan on behalf of Fannie Mae and Freddie Mac.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190387</guid>
      <pubDate>Fri, 02 Sep 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190387-fhfa-files-conditional-objection-to-bofa-deal</link>
    </item>
    <item>
      <title>Risk Retention Is &amp;#145;No Panacea,&amp;#146; Fitch Says, But S&amp;P Says New MBS Regime Could Improve Underwriting</title>
      <description>
        <![CDATA[Standard & Poor&#146;s and Fitch Ratings have raised concerns about the proposed risk-retention rule that has sparked an outcry among MBS issuers, but the rating services appear to be taking a more measured view &#150; in fact, S&P says it may be good for the market&#146;s long-term health. In a recent report, S&P agreed with the industry consensus that the proposed rule won&#146;t help the housing market and non-agency MBS sector right now. But the new standard for securitization, which sets a high bar for qualified residential mortgages that would be exempt from a ...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190292</guid>
      <pubDate>Fri, 12 Aug 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190292-risk-retention-is-145-no-panacea-146-fitch-says-but-s-p-says-new-mbs-regime-could-improve-underwriting</link>
    </item>
    <item>
      <title>Proposed BofA Settlement is &amp;#145;Unfair and Inadequate,&amp;#146; Says AG, Charging Trustee With Conflict of Interest</title>
      <description>
        <![CDATA[New York Attorney General Eric Schneiderman blew the whistle on a pending settlement between Bank of America and MBS investors worth $8.5 billion for Countrywide non-agency MBS issued before the financial crisis. Schneiderman last week filed a lawsuit against Bank of New York Mellon &#150; a party to the settlement &#150; for allegedly committing fraud while acting as trustee for MBS trusts securitized by BofA, and asked the court to reject the settlement proposal. &#147;In negotiating the proposed settlement, BNYM labored under a conflict of interest because it stands ...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190293</guid>
      <pubDate>Fri, 12 Aug 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190293-proposed-bofa-settlement-is-145-unfair-and-inadequate-146-says-ag-charging-trustee-with-conflict-of-interest</link>
    </item>
    <item>
      <title>Consumer Groups Express Apprehension About QRM Rule, Blast Downpayment Requirements</title>
      <description>
        <![CDATA[Like many industry commenters, consumer groups are urging federal regulators to lighten up on what has been largely regarded as an overly-restrictive definition of &#147;qualified residential mortgages&#148; that will get preferential treatment in future mortgage securitizations. The interagency risk-retention proposed rule would limit QRM status to purchase mortgages with a minimum 20 percent downpayment and conservative underwriting standards on debt-to-income ratio and credit history. The proposed QRM rule will &#147;further slow the process of clearing ...]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/190287</guid>
      <pubDate>Thu, 11 Aug 2011 00:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/190287-consumer-groups-express-apprehension-about-qrm-rule-blast-downpayment-requirements</link>
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