Newer delinquencies become more of a focus at the GSEs
Loans with payments late by a year or more were the biggest sub-category within the distressed portfolios a year ago, but now mortgages that've been late for 30-59 days are.
Secondary markets
Carrington markets second liens to existing servicing customers
The products are currently limited to a single distribution channel, but the company hasn't ruled out offering them through third-party originators in the future.
Private-label MBS will go from ‘bad to worse’ in 2023, forecasts say
Deterioration in credit quality should put strain on collateral originated in late 2021 and early 2022, affecting performance, Barclays Credit Research said.
Achieve closes rare HELOC securitization
These types of transactions largely disappeared from the market for years after the Great Recession.
RMBS issuance likely to end the year down 17%
Prime mortgage activity fell notably while nonprime deals and government-sponsored enterprise credit risk transfers increased in 2022, according to Kroll Bond Rating Agency.
Credit score prices to rise as much as 400% in 2023
However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.
Availability of real estate capital may be lower in 2023
Nonbanks will probably see the least change, while securitization lenders, depositories and REITs are likely to experience the most, an Urban Land Institute survey suggests.
Fannie Mae, Freddie Mac to include social disclosures in MBS issuances
Scores will be assigned to all loan pools created since 2010, including future securitizations, and are expected to help investors determine the share of mortgages meeting specific characteristics.
Who will buy MSRs if Ginnie Mae’s new rule prompts exits?
The government mortgage-bond insurer's requirements that restrict investor involvement are likely the greatest challenge to finding more purchasers of MSRs, experts said at a servicing conference Monday.
Two Harbors reported mixed results in 3Q, sold $20B in servicing
The company was profitable on a net basis but took a comprehensive loss linked to market volatility's effect on mortgage bonds.
Angel Oak posts third consecutive quarterly loss amid non-QM headwinds
The company is floating the possibility of selling a portion of its loan portfolio to free up liquidity in coming months, leaders said.
Freddie Mac earnings slip due to credit provision
The government-sponsored enterprise put more money aside as mortgage interest rates rise and home prices start to decline.
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.
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.
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