Prime jumbo mortgage lending by nonbanks set to grow in 2021
Upcoming changes to underwriting regulations, as well as the end of the QM patch, in addition to growing home values, all add up for this market to have a good year.
Capital markets
Ginnie Mae ends 2020 with its strongest month for MBS issuance ever
The volume of Ginnie securities issued in December marked the first time more than $80 billion has been issued in a month.
Private equity turns to $3 trillion in untapped value for loans
The buyout industry has about $3 trillion of unrealized value on its books, according to Preqin. And it’s tapping that to land loans for bolt-on deals, to refinance debt or bail out struggling companies in their portfolios.
10 outrageous 2021 predictions for the mortgage industry
Industry watchers make their wildest guesses (more or less) about developments in real estate finance that could rock the industry in the upcoming months.
How private financing for mortgage servicers’ advances is holding up
The availability of financing hasn’t been an issue to date, but it still could be.
Ginnie Mae provides more leeway for Libor-indexed reverse mortgages
The deadline for inclusion in Ginnie mortgage-backed securities has been extended and an exception will be made for some participations.
FHFA g-fee report shows shift in cash sales
Last year, smaller lenders were put at a slight disadvantage in terms of what they were charged in guarantee fees when they sold loans for cash.
Nearly half of mortgage firms expect profit growth to slow: Fannie Mae
The average per-loan profit margin remains incredibly strong, but the share of senior executives expecting it to fall has risen markedly.
Ginnie Mae MBS issuance plateaus near a record high in November
Whether Ginnie issuance increases in the future may depend in part on the extent to which the Biden administration wishes to tap the FHA to promote affordable housing and homeownership.
Forbearances increase as trend spreads to all loan types
Even government-sponsored enterprise loans, which have seen forbearance rates drop for 24 weeks in a row, saw a slight uptick.
Dinan’s York exits hedge funds for private debt, CLOs
York Capital Management told its investors this week that it was all but getting out of the hedge-fund business to focus on its $8.5 billion in longer-term products.
SFA to Mnuchin: Don’t rush GSEs out of conservatorship
The Structured Finance Association fears Treasury Secretary Steven Mnuchin may release the government-sponsored enterprises from conservatorship ahead of the change in administration, and that doing so could disrupt the mortgage-backed securities market.
Was reboot of this Fed crisis-relief program a bust?
The Term Asset-Backed Securities Loan Facility was brought back to inject $100 billion into the pandemic-battered economy, but only a fraction has been disbursed. Yet experts, pointing to its calming effects on markets, recommend that it be extended into next year.
Mortgage credit rises as more lower score loan products offered
Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.
Fannie, Freddie extend purchases of mortgages in forbearance
There have been several extensions of the policy since it was put into place as a way to sustain originations amid a wave of forbearance allocated to borrowers with government-related loans.
Freddie Mac CEO David Brickman resigns, interim leader appointed
Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.
2021 predictions for the secondary market, mortgage servicing rights
The sector’s leaders are hoping for better in 2021, while not forgetting lessons learned about the market’s risks in 2020.
Ginnie Mae issuance rebounds to level just shy of August record
FHA volumes, a key contributor to Ginnie Mae issuance, could fall as long as the refinancing boom continues — unless the FHA takes a step that could reverse that trend.
Private equity fortunes soar on prospect of Washington gridlock
Private equity managers and their investors, who were concerned about progressive plans to increase taxes and regulation on their industry, are relieved the expected “blue wave” scenario that would have handed Democrats control of the presidency and both chambers of Congress now looks unlikely.
What delayed election outcome means for banks
If days go by without a clear result, the uncertainty could lead to market volatility, put off talks for a stimulus plan and complicate bankers' planning for a potentially new regulatory environment.
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