How REITs have been bearing up under pressure
They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.
Capital markets
Prepayment risk fell to nearly a 22-year low in September
That's left mortgage servicing rights investors with fewer concerns about runoff, but buyers have less in the way of recapture opportunities.
Black Knight launching mortgage trading and hedging platform
The automation provider, which could merge with ICE Mortgage next year, is updating secondary market tools sorely needed in a volatile market.
Non QM performance wavered in 3Q
The impairment rate for securitized non-qualified mortgages improved a little in August after increasing slightly the two previous months.
Pennymac TPO introduces new loan platform
The wholesale channel tool will speed up mortgage processing time by as much as 40%, the lender claims.
Bank of America servicer outlook revised to negative by Fitch
While the agency affirmed the bank's current high ratings, it also cited instances of noncompliance, which led to the downgrade.
The Fed won’t sell MBS any time soon. Now what?
Experts review scenarios that could cause Federal Reserve chairman Jerome Powell to reverse course on a decision this week that left some lenders breathing a sigh of relief.
Housing slowdown puts damper on rent-backed bonds
BofA Securities Inc. predicts that single-family rental securitizations — which repackage a single loan tied to multiple properties — will fall to just $2 billion for the rest of 2022 as Federal Reserve rate hikes send shivers across the industry.
Is RMBS credit more insulated from originator woes this time around?
Historically tight underwriting reinforced by regulation and third-party reviews could be buffers, so long as manufacturing standards for production and servicing hold up as residential mortgage companies downsize, according to KBRA.
Default risk for recent originations comes in higher due to refi mix
A larger share of cash-out loans and slowing home-price growth is leading to expectations of more serious delinquencies down the road, according to Milliman.
Are Fannie Mae, Freddie Mac preparing to accept VantageScore?
Even though a Compass Point report states the pair have validated the credit scoring model and could implement it in the first quarter of 2023, interested parties would not verify it.
Non-QM impairments rise 2 months in a row for first time since 2020
A mix of new distress and declining cures drove the uptick, according to dv01.
Ginnie Mae’s nonbank servicing share is inching up in ’22
Updated counterparty requirements recently coordinated with the Federal Housing Finance Agency affect a constituency that has kept growing, albeit at a slightly slower pace, according to new mortgage-backed securities research.
Why Fannie Mae’s mortgage outlook has dimmed despite falling rates
Some housing numbers have been weaker than expected because affordability remains relatively low, outweighing slightly higher refinancing that has an upside for lenders but a potential downside for servicers.
Angel Oak posts 2Q loss due to non-QM market uncertainty
The REIT did not issue a securitization in the period because of the upheaval, but found a more receptive marketplace in July.
Ginnie Mae tweaks some capital requirements
The changes, which appear to be separate from a controversial nonbank proposal that's pending, will reduce red tape for credit unions and housing finance agencies and clarify a calculation for loans eligible for repurchase.
FHFA starts its own Office of Financial Technology
The agency also put out a request for public comment on the role of fintech in housing finance.
Why mortgage delinquencies remain stable despite more economic stress
Inflation and higher interest rates are hurting distressed borrowers, but low unemployment, remaining forbearance and loss mitigation options are still blunting their impacts, recent loan-performance numbers suggest.
Non-QM stayed strong in 1H, but the road ahead could be bumpy
Delinquencies are likely to rise if both interest rates and inflation continue their upward movements, a DBRS Morningstar report said.
Fannie and Freddie escalate nonperforming loan sales
The government-sponsored enterprises divested themselves of the largest share of these loans since they first began selling them in 2014, a Federal Housing Finance Agency report found.
Load More
Couldn’t load more articles. Try again.