Fannie Mae, Freddie Mac ended 2022 ‘critically undercapitalized’
Fee hikes at the government-sponsored enterprises are one remedy, the government-sponsored enterprise's regulator noted in its annual report to Congress.
Capital markets
Credit scores similar whether from two or three bureaus S&P finds
The findings from Standard & Poor's show little impact from the Federal Housing Finance Agency's proposal regarding what information is required to underwrite a conforming mortgage.
Prepayment speeds were up 22% in May on seasonality
But activity is still very low, as just 1% of the market is in the position to refinance thanks to high interest rates, Keefe, Bruyette & Woods said.
FHFA’s Thompson blames “certain media” for distorting info about fees
During her opening remarks before lawmakers Tuesday, the head of the Federal Housing Finance Agency reiterated that borrowers with strong credit profiles are not being penalized to benefit those with poorer scores.
Modest recession still more likely than soft landing: Fannie Mae
The government-sponsored enterprise only tweaked the two-year mortgage origination forecast, with a $6 billion reduction for 2023, but an increase of $7 billion for 2024.
Ginnie Mae’s MBS portfolio topped $2.3 trillion in 1Q
Although issuance of new securitizations has been low compared to year-ago levels, it rebounded as spring buying began
Incenter puts $7 billion in mortgage servicing rights up for bid
The offering comes amid an ongoing wave of private and public MSR sales.
Angel Oak ekes out first profits in over a year
After a selloff toward the end of 2022 when it sought to reduce liquidity risk, the company resumed purchases of whole loans last quarter.
Bills seek to roll back recent change to mortgage pricing
The legislative proposals backed by Republican members of congress seek to undo the latest cross-subsidized adjustments to loan fees that two large government-related mortgage investors charge.
Servicing rights up for bid include $5.42 billion portfolio
A couple small deals with some unusual regional concentration also are in the market and one broker says many billions of dollars more are in the pipeline.
World’s biggest money managers are divided on inflation’s path
It's a debate that matters more than ever, as bond traders ponder the end of the Federal Reserve's aggressive campaign of interest-rate hikes and wager on cuts starting within months.
Where there’s value in repackaged loan deals
Demand for AAAs is still challenged as banks, the biggest buyers, are facing too much uncertainty and volatility around their balance sheets.
Secondary capital said to be crucial for credit union balance sheets
Subordinated debt issuances and asset-backed securities have helped institutions of all asset sizes weather recent market uncertainties and fuel campaigns for growth, according to executives and investment experts.
FHFA sets timeline for credit score and reporting changes
The agency, which oversees government-related investors that set underwriting parameters in the U.S. mortgage market, estimates the process will begin in 2024.
UBS, Credit Suisse pact stabilizes key source of mortgage financing
The government-backed acquisition heads off regulatory and financial concerns at a Swiss bank that could have affected overseas financial institutions that U.S. lenders count on.
How far the Fed’s facility is likely to go in stopping bank MBS woes
Institutions can borrow against par-valued securities that they would otherwise have to sell at a loss when there's a run on deposits, and it could have effectiveness beyond its actual usage.
FHFA delays debt-to-income pricing change for mortgages
The new fees based on the DTI, which lenders have said is too likely to vary throughout the origination process for a single loan, will now go into effect in August.
Silicon Valley Bank’s failure is a lesson for depositories with MBS
Mortgage-backed securities aren't generally considered risky assets, but how SVB managed them contributed to its woes.
What the SEC’s conflict of interest proposal may mean for mortgages
The government-sponsored enterprises will likely have their mainstay bonds exempted from the potential securitization-related rule, but their credit-risk transfers could be subject to it, some experts say.
Thomas Lee, billionaire private equity pioneer, dies at 78
Lee invested more than $15 billion in hundreds of transactions as of 2020. That included his best-known transaction, the 1992 purchase of Snapple Beverage Corp.
Load More
Couldn’t load more articles. Try again.