Browse articles from IMFnews related to Secondary/MBS.

February 15, 2019 - IMFnews

What We’re Hearing: Calabria, a Sure Bet? / Warm Thoughts About Fannie-Freddie Loan Limits / Retaining More Capital / Congress? / Conservatorship Purgatory / Looks Like Radian is in Play / A Sale Dragging On and On and On: Genworth / Industry Vet Rudy Orman Lands

On the doorstep: The recap and release of Fannie and Freddie?

February 15, 2019 - IMFnews

Mortgage Securitization Rates Steady in 2018, Non-Agency Rising

The Ginnie securitization rate hit 100.2%, but timing issues were involved…

February 15, 2019 - IMFnews

Redwood Cites Strong Competition in the Non-Agency Market

Redwood President Dashiell Robinson said demand for whole loans remains strong...

February 14, 2019 - IMFnews

Annaly Posts a Whopping $2.25 Billion Loss for 4Q18, Eyes the Non-Agency Market

Annaly CEO Kevin Keyes said the REIT is working to diversify its investment strategy, including a focus on acquiring new non-agency mortgages…

February 14, 2019 - IMFnews

Lower Earnings for Fannie and Freddie, 4Q18 Dividend Payment On Track (For Now)

It’s rare but Fannie and Freddie reported results on the very same day…

February 13, 2019 - IMFnews

Short Takes: A Nice Month for Pershing Square / No Mention of the GSEs / A Mortgage-Related M&A Deal Drags On / Delayed by the Chinese New Year / A New MBS From Deephaven / Pavaso Hires Mortgage Tech Vet Tim Anderson

After two-plus years of waiting, the Genworth deal has yet to close...

February 13, 2019 - IMFnews

Ginnie Mae Approved Only 8 New Issuers in 2018

Nonbanks comprise 61% of approved servicers of Ginnie’s $2.04 trillion portfolio…

February 13, 2019 - IMFnews

Seer Capital Management Stocks Its First Non-QM MBS with Loans from HomeXpress, Athas

This marks Seer’s maiden voyage into the non-QM MBS market…

February 13, 2019 - IMFnews

GSE Single-Family MBS Issuance Off to a Slow Start in January

Wells Fargo, Quicken Loans and PennyMac ranked first, second and third, respectively, in loan sales to Fannie and Freddie during January…

February 12, 2019 - IMFnews

Short Takes: GSE Junior Preferred Shareholders Could Get Paid / Wedbush Tells Investors to Take the Cash / New Rez Sees a Buying Opportunity in MSRs / CFPB to America: Save Some of That Tax Return!

Bove sees some type of compensation going to the preferred shareholders of Fannie and Freddie...

February 12, 2019 - IMFnews

A Tiny 4Q18 Profit for New Residential

New Rez continues to gobble up MSRs like there's no tomorrow...

February 12, 2019 - IMFnews

Galton Increases IO Mortgage Share in Latest Expanded-Credit MBS

Loans from 51 lenders are represented in the new transaction, led by JMAC Lending…

February 11, 2019 - IMFnews

Short Takes: Exiting a GSE Investment / The Fed Likely Will Greenlight the BB&T-SunTrust Merger / No. 9 / Please, Just Don’t Pick a Name Like Mr. Cooper / How Much Lower Can Ditech Go? / CoesterVMS?

The big unknown about the merger: Once completed, what name will the new bank and mortgage company take?

February 11, 2019 - IMFnews

GSE Credit Profile Turned Riskier in 4Q18

For all of last year, some 8.15% of GSE purchase loans fell in the low-score/high-LTV bucket…

February 8, 2019 - IMFnews

What We’re Hearing: Salivating at the Prospect of a Fannie-Freddie Stock Offering? / Mulvaney Again / Waiting in the Wings for Treasury’s GSE Assignment? / What Could Stand in the Way? / MI Roundup / Wells Fargo, the MBS King / A New Legislative Hire for MBA: Tallman Johnson

But one thing is certain: the Trump White House is not monkeying around with GSE reform...

February 8, 2019 - IMFnews

MBA Issues Primer for Smooth LIBOR Transition

MBA wants lenders to act early on issues identified in the primer to ensure transition to a new benchmark rate is as seamless as possible.

February 8, 2019 - IMFnews

Agency MBS Production Fell Modestly in January

It was the lowest combined output for the three agencies since February 2016, when just $80.49 billion of new MBS were issued.

February 6, 2019 - IMFnews

Short Takes: About That Net Worth Profit Sweep… / A Permanent Ginnie President? / LOs Tell the Fed: Loan Demand is Weaker / A Lack of Experienced Underwriters for Non-QMs / A New Loan Officer at Castle & Cooke

Unless a change is made to the terms of their “bailout,” Fannie and Freddie will upstream most of what they earn to Treasury by the end of March...

February 6, 2019 - IMFnews

Civil Rights Groups Up in Arms Over Crapo’s GSE Reform Plan

CRL and other groups noted: “To date, Congress has exercised extreme caution in repairing the housing finance system…”

February 6, 2019 - IMFnews

Quick Turn Time for Prolific Lone Star on New MBS

Mortgages in the MBS have an average credit score of 720…

February 6, 2019 - IMFnews

Mnuchin: Treasury Prepared to Go It Alone on GSE Reform

Treasury’s GSE plan is being shaped by Senior Treasury Counselor Craig Phillips, who cut his teeth on Wall Street as an MBS trader…

February 5, 2019 - IMFnews

Nonbanks Amassed Large MBS Market Share in 2018

Over the same timeframe, agency MBS production by commercial banks, thrifts and credit unions fell 17.2 percent…

February 4, 2019 - IMFnews

Short Takes: Home Point Takes a Dive into the Non-QM Market / #28 Overall / Redwood Selling Additional Shares / Relationships / Not So Fast on that Title Deal

Another 'A' paper lender is jumping into the non-QM pool.: Home Point...

February 4, 2019 - IMFnews

Fairholme Tells its Shareholders to Hang in There on Fannie and Freddie

Fairholme's Bruce Berkowitz suggests the best is yet to come...

February 1, 2019 - IMFnews

What We’re Hearing: Craig Phillips, the ‘Ax’ / What We Talk About When We Talk About GSE Reform / Next Up: Meetings on Capitol Hill / Time for Treasury to Hire an Investment Banker? / Keeping an Eye on loanDepot / More VC Money for Better Mortgage

And some point, it stands to reason that the U.S. Treasury Department would hire an investment banking firm with a specialty in Washington matters to assist in a recap and release plan…

February 1, 2019 - IMFnews

Sen. Crapo Releases GSE Reform Outline. Is it DOA?

Under the Crapo plan, the multifamily business of Fannie and Freddie would be sold to the highest bidder...

February 1, 2019 - IMFnews

‘Crazy Pricing’ Blamed for Lower Origination Volume

Flagstar CEO Sandro DiNello said some lenders are pricing mortgages “irrationally…”

February 1, 2019 - IMFnews

Another Record Year for GSE Credit-Risk Transfers

CRT deals have redefined the Fannie/Freddie business model…

January 31, 2019 - IMFnews

Ginnie Imposes Pooling Restrictions on loanDepot, Reinstates Freedom Mortgage

The pooling restriction on loanDepot is effective for Feb. 1, 2019...

January 31, 2019 - IMFnews

Trump Political Operative Named FHFA Chief of Staff

The appointment is effective February 4...

January 31, 2019 - IMFnews

Otting’s Appointment at FHFA May Be Illegal

Should the White House have picked one of three deputy directors instead?

January 30, 2019 - IMFnews

White House Issues Statement on GSE Reform, Says it Will Work with Congress

The White House: “Housing finance reform is a priority for the administration … At this time, no decisions have been made on any reform plan. As part of the process, however, the administration will work with Congress…”

January 30, 2019 - IMFnews

Plan Afoot to Reintroduce VA ‘Orphan’ Loan Legislation

The Protect Affordable Mortgages for Veterans Act of 2018 was passed by the House via a voice vote on Sept. 26 and then sent to the Senate, where it was stalled on a technicality.

January 30, 2019 - IMFnews

What are the Odds Calabria Will Get the FHFA Job?

Given Calabria’s past statements about the GSEs, some Democrats believe he isn’t the best person for the job…

January 29, 2019 - IMFnews

Seer Readies Non-QM MBS, No Word Yet on Deal Size

Seer Capital Management has bought controlling interests in asset origination firms in both the U.S. and Europe…

January 28, 2019 - IMFnews

Short Takes: Rep. Waters Wonders: Is Otting Legal? / An End-Run? / Cowen on Calabria’s Chances / The Fed Gets a New Director of Research

January 28, 2019 - IMFnews

Legislative Reform of the GSEs This Year? Don’t Bet On It

The consulting firm, echoing what many in the industry believe, said if housing finance reform were easy “it would have happened long ago.”

January 28, 2019 - IMFnews

Agency MSR Transfers (Sales) Up a Solid 13.9 Percent in 2018

The three most active sellers of bulk MSRs: Stearns Lending, United Wholesale Mortgage and loanDepot, according to exclusive figures from Inside Mortgage Trends…

January 25, 2019 - IMFnews

House Banking Chair Waters Wants Answers from FHFA’s Otting on His GSE Reform Plans

In mid-January, in a speech to FHFA staffers, Otting vowed to make administrative changes to the GSEs but offered no time table or details...

January 25, 2019 - IMFnews

What We’re Hearing: The Coming War Over Administrative Reform of the GSEs / Trust in (MBS) Traders / Congress Committed to Legislative Reform / Predictions Can be Difficult / At Least Bill Ackman is Happy / JPMorgan Now #4 in Mortgage Lending

Pershing Square CEO Bill Ackman should be a happy man these days. His investment in Fannie and Freddie is now in the black...

January 25, 2019 - IMFnews

Commercial MBS Issuance Declined Slightly in 2018

The flow of multifamily mortgages into non-agency CMBS actually rose slightly in 2018, including a burst of activity in the fourth quarter.

January 24, 2019 - IMFnews

Short Takes: Bob Ryan Staying Put at FHFA / Treasury Likes Moelis? / 24 Million Banking and Mortgage Documents Exposed? / Something to Worry About / Not Collecting a Paycheck at Ginnie

Will the Moelis plan be the one?

January 24, 2019 - IMFnews

A Profit Decline for Top-Ranked Warehouser Texas Capital

Mortgage finance assets comprise 32.0 percent of Texas Capital's asset base...

January 24, 2019 - IMFnews

CHLA Anxious About What Ginnie Mae Might Do

CHLA adds that “enhanced” supervision should focus on Ginnie Mae's largest issuers...

January 24, 2019 - IMFnews

An Administrative Plan to Reform the GSEs Imminent?

The spokeswoman stressed that Otting did not mention Congressional approval, a timeline or "discuss any details of the plan.”

January 23, 2019 - IMFnews

Fate of the GSE ‘Patch’ Undecided Despite its Importance

Joe Pigg of the American Bankers Association is among those expressing concern about the high DTIs of loans under the GSE patch…

January 23, 2019 - IMFnews

Nonbanks Step Up Efforts with Non-Agency Products

More nonbanks, including the top-ranked PennyMac, are growing comfortable with non-QMs…

January 22, 2019 - IMFnews

IRS Confirms that Lenders Are Eligible for New 20 Percent Deduction (in Some Instances)

The IRS, however, doesn’t address whether lenders that purchase mortgages are eligible for the deduction.

January 22, 2019 - IMFnews

Don’t Look Now but Jumbo LTVs are on the Rise: 76 Percent and Climbing…

However, the rise in the LTV ratio occurred as issuance volume declined…

January 18, 2019 - IMFnews

What We’re Hearing: GAO Worries About Fannie & Freddie / The Return of Jeb Hensarling / Top-Ranked Nonbank Enters the HELOC Market / Quicken Courts the Refi Market / Eddy Perez to Head MORPAC / Take Our Salary Survey

The title of the new GAO report says it all: The Prolonged Conservatorships of Fannie Mae and Freddie Mac...


Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

It’s fine. Stick with what works.


Time for a change. Borrowers are different today.


Undecided, still assessing the situation.