Housing in places like New York, San Francisco fail more than just the locals

Caution: GSE reform could have serious unintended consequences

Guest blog by former Ginnie Mae president Joseph Murin

Monday Morning Cup of Coffee: Time to cut the MLS cord?

Plus housing metrics, the incredible shrinking GDP, and kicks are for TRIDs
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Items Tagged with 'mortgage bonds'

ARTICLES

Barclays mortgage bond trader fired for allegedly providing inaccurate information to clients

Yoon Seok Lee “discharged” on Feb. 11
Ben Lane
Barclays Capital fired one of its mortgage bond traders after he allegedly allegedly provided inaccurate information to clients involving residential mortgage-backed securities trades.
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Moody’s: New mortgage disclosure rule will increase risk for US RMBS

Question is how much RMBS trusts will be liable for lender errors?
Trey Garrison
The new CFPB disclosure rules, along with the potential for increased costs in the event of non-compliance, raise the risk of losses for RMBS trusts. Here’s why.
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Fannie Mae’s latest risk-sharing transaction prices tight

Carries $45B in unpaid principal balance
Brena Swanson
Fannie Mae announced that it priced its latest credit risk-sharing transaction under its Connecticut Avenue Securities series. This one carried an unpaid principal balance of approximately $45 billion and is different than the previous six. Here's how.
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Fitch: Fannie Mae risk-transfer deal more advantageous for mezzanine investors

Still similar to prior risk transfer transactions
Brena Swanson
Fannie Mae’s seventh risk transfer transaction, Connecticut Avenue Securities, Series 2015-C02, is similar to its prior risk transfer transactions and is about to be rated by Fitch Ratings. There is one feature, however, that offers investors a different kind of competitive benefit.
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Fannie, Freddie single mortgage-backed security takes shape in new FHFA update

Details emerge as input still sought on structure
Trey Garrison
The Federal Housing Finance Agency on Friday reported work continues apace on the proposed single mortgage-backed security for the GSEs. Here's where it stands and what's next.
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Moody’s: Stopping eminent domain seizures of underwater mortgages a credit positive

Bill that would thwart municipal seizures good for RMBS
Trey Garrison
The House of Representatives’ Appropriations Subcommittee approved a bill last week for the fiscal year that would keep municipalities from using eminent domain to seize underwater mortgages. Here's why Moody's Investors Service says it's a good thing for investors.
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Freddie Mac CEO: Ready for legislative solution

Looking at new risk-sharing deals, FICO alternatives
Jacob Gaffney
While much is made of Corker-Warner, Johnson-Crapo and other attempts to finally return the GSEs to the private market, less attention is given to the disruption such lawmaking may have on the internal, day-to-day operations at the housing behemoths.
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Monday Morning Cup of Coffee: What’s the diagnosis for the "sick" housing market?

Still, confidence remains high
Trey Garrison
With 1.2 million buyers missing from the marketplace, something is wrong. But where is the real problem? Also, the interest rate and mortgage bond outlook, home prices, industry confidence and more.
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WinWater prepping vanilla jumbo mortgage bond

$287.74 million offering receives AAA ratings
Ben Lane
For the third time this year, WinWater Home Mortgage is preparing to bring a prime jumbo residential mortgage-backed securitization to market. WinWater Mortgage Loan Trust 2015-3 is backed by 382 loans with a total principal balance of $287,742,280.
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Ocwen fires back at “disingenuous” charges of negligence

Accuses mortgage bond investors of being "pro-foreclosure"
Ben Lane
Ocwen Financial is doubling down in its fight against a group of mortgage bond investors that accused the nonbank of failing to properly collect payments on mortgage loans and breaching its bond covenants, charging the investors, which include BlackRock, MetLife, and PIMCO, of having a “pro-foreclosure, anti-modification” agenda.
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