Nonbank RMBS servicers shift from defaults to portfolio growth: Fitch
Nonbank mortgage-backed securities servicers increase their exposure to agency loans as the housing market distances itself from last decade's crash, according to Fitch Ratings.
Mortgage defaults
Why Fannie and Freddie may need more Treasury bailout cash
Fannie Mae and Freddie Mac may need to tap into U.S. Treasury funds when they adopt CECL, a new accounting rule that makes companies set aside money upfront for expected loan losses.
Ginnie Mae’s digital mortgage securitization pilot likely in 2019
Ginnie Mae is looking to start a pilot program to securitize digital mortgages as early as 2019, but issuers would not be able to commingle loans using traditional paper files in those deals.
Why this hurricane season may be harder on servicers than Irma and Harvey
There are almost 7 million coastal homes facing more than $1.6 trillion in potential storm-surge reconstruction expenses this year, representing a 6.6% cost increase from last year's hurricane season.
Delinquent mortgage issues persist in hurricane-affected states
There was a modest decline in hurricane-related delinquent mortgages in February, a sign that there are lingering problems in the affected markets.
New due diligence firm looks to change a static industry
A new due diligence firm created by a trio of former Clayton Holdings executives wants to shake up a static business model.
Hurricanes cause rise in late mortgage payments for September
Early-stage mortgage delinquencies had their largest year-over-year gain during September in over eight years, a direct result of Hurricanes Harvey and Irma.
Default servicers investing in REO home improvements
The vast majority of default servicing professionals are investing in "significant" REO property improvements to increase resale values in a hot housing market.
Oaktree unit securitizing €542.4M in non-performing Irish mortgages
The loans are part of a €1.8 billion bad-loan purchase that Mars Capital, an Oaktree "vulture fund," made of high-risk mortgages from Irish banking authorities in 2014.
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Glen Fest
SPS grew its servicing rights 14% by targeting nonagency market
Select Portfolio Servicing grew its mortgage servicing rights portfolio by over 14% in the second quarter by targeting opportunities in the nonagency loan market.
Latest Freddie risk-transfer offering features $983m in RPLs
The transaction would be the third under Freddie's Seasoned Loan Structured Transaction (SLST) program.
By
Glen Fest
Replacing HARP creates wrinkle in Fannie, Freddie risk-sharing deals
Fannie Mae and Freddie Mac will adjust their risk-sharing deals so that they can accommodate high loan-to-value loans refinanced under the programs replacing the Home Affordable Refinance Program.
