FHFA leaving g-fees alone, revising primary mortgage insurance requirements

FHFA leaving g-fees alone, revising primary mortgage insurance requirements

Move will lower fees for riskier borrowers; change is ‘revenue neutral’

Housing advocacy groups call on FHFA, CFPB to investigate “pro-foreclosure” tactics

Groups cite Ocwen as leader in preventing mortgage defaults

Court filing reveals name of anonymous whistleblower in Zillow/Move lawsuit

Former Zillow VP of Strategic Partnerships wrote the letter
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Items Tagged with 'Private capital'

ARTICLES

Mortgage bond investors don’t trust lenders either

Bloomberg explores where the private capital went
Ben Lane
It turns out that everyday people weren’t the only ones whose trust was broken by the crisis. According to a new report from Bloomberg, mortgage bond investors aren’t buying right now because they’re scared, too.
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Freddie Mac doubles down on credit risk offload to insurers

Backstops remaining credit risk from three STACR deals
Ben Lane
Freddie Mac has made its first move of the year as part of its continuing effort to limit the American taxpayer's liability. Freddie announced that has obtained a number of insurance polices designed to cover much of the remaining credit risk associated with three of its Structured Agency Credit Risk transactions from 2014.
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Värde Partners to purchase Deephaven Mortgage

Will provide $300 million to invest in non-agency loans
Ben Lane
Deephaven Mortgage and Värde Partners have announced that the two companies have entered into a purchase agreement, “under which certain affiliates of Värde will acquire Deephaven Mortgage,” the companies stated in a release.
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SIFMA says FHFA must raise g-fees but carefully

Must strike balance protecting GSE MBS, bringing in private capital
Trey Garrison
Slow, steady and measured is how the Securities Industry and Financial Markets Association thinks the Federal Housing Finance Agency should approach raising Freddie Mac and Fannie Mae guarantee fees.
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FBR: Make credit available or we won’t see $1 trillion in originations

Weak May and June continue to drag market down
Ben Lane
Nothing happens in this industry without mortgage originations. They’re the lifeblood of this industry. Without originations, there are no servicing rights available for purchase and there are no securitizations to invest in.
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Freddie Mac offloads $285 million more in credit risk to insurers

Largest credit risk transfer of its kind
Ben Lane
Between the four STACR deals and the three ACIS deals, Freddie has offloaded risk on more than $100 billion in single-family mortgages.
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Treasury asks you how to revive “dormant” private label RMBS market

Pushes for return of private capital to ease credit crunch
Ben Lane
U.S. Treasury Secretary Jacob Lew said that the Treasury is hoping to “foster the development of a safe and sustainable private market for mortgage lending that can serve alongside government-supported options,” by working with investors and securitizers to “uncover new paths to increase private investment.”
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Obama administration reveals plan to jump-start housing

Extends HAMP to 2016, announces measures to attract private capital
Ben Lane
Citing the lack of private capital in the market, the dearth of affordable rental options and the abundance of Americans who are facing foreclosure or are underwater on their mortgages, Treasury Secretary Jacob Lew announced three new plans to boost housing in the U.S.
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Private capital is returning to the mortgage market

Shrinking spread between jumbo and conforming mortgages is a positive indicator
Ben Lane
“We think that the decline in the jumbo-conforming mortgage interest rate spread is a positive sign for the future of the mortgage market,” Capital Economics Property Economist Paul Diggle said.
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From HW Magazine

Don't call it a comeback -- because it's not

A real restart for private-label RMBS issuance faces a daunting set of obstacles
Christopher Whalen
A financial industry publication recently reported, “Carrington Mortgage, Citadel Servicing and New Penn Financial are planning securitizations of newly originated subprime mortgages.” The publication went on to say in breathless tones that “[t]he offerings, on the slate for 2014, would confirm recent predictions that deals would soon start flowing in the asset class…”
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