Items Tagged with 'Mortgage bond performance'


  • S&P: Mortgage bond issuance doubled in 2017, will continue rising in 2018

    RMBS issuance jumped from $34 billion in 2016 to $70 billion in 2017
    Back in June, Standard & Poor’s Global Ratings said that 2017 was on track to be the best year for the residential mortgage-backed security market since 2013. Now that the final numbers are in, it looks like 2017’s mortgage bond issuance exceeded even the sunniest of forecasts.
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  • Fitch warns mortgage bond investors: Wells Fargo could keep more money for legal fees

    $2.2 billion in RMBS classes now at risk of downgrade
    Earlier this month, Wells Fargo unexpectedly kept $90 million away from residential mortgage-backed securities investors, stating that the bank needed the money to cover legal expenses. Now, Fitch Ratings is warning RMBS investors that Wells Fargo’s move may not be an isolated incident. In fact, it may be a harbinger of similar moves to come in the future.
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  • What is causing considerable operational headaches in the mortgage sector? 

    My panel at the CMBA conference next month will help explain
    [Commentary] I will be moderating a CMBA servicer panel promisingly entitled “Utilization of Technology in Mortgage Servicing” that will allow some of the experts in the industry to talk about the current industry environment and how technology helps them manage their business. Here's what we're going to cover and who will be on stage with me.
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  • S&P: Mortgage bond market on track for best year since 2013

    RMBS issuance in 2017 more than doubles 2016’s totals
    Thanks to the residential mortgage-backed security market continuing its strong performance in the month of May, RMBS-related issuance is now on track to have its best year since 2013, a new report from Standard & Poor’s Global Ratings shows.
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  • SEC fines First Mortgage $12.7M, bans 6 execs for defrauding Ginnie Mae investors

    Claimed performing mortgages were delinquent, resold them into new pools
    Several senior executives at First Mortgage Corporation lied about the performance of the mortgages the company originated so they could pull the mortgages out of mortgage-backed securities guaranteed by Ginnie Mae, then turn right back around and sell the mortgages back into new mortgage bonds, defrauding investors out of $7.5 million, the Securities and Exchange Commission said Tuesday.
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  • Things at Ocwen just went from bad to much, much worse

    Embattled company hit with an avalanche of bad news
    Just when it looked Ocwen Financial may finally be getting some good news, the nonbank was hit with an avalanche of bad news. A new report from Compass Point says that Ocwen was just terminated as servicer on two RMBS deals, and worst of all, Ocwen now stands accused of costing mortgage bond investors $26 billion.
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  • Moody’s: Ocwen’s $150M settlement won’t hurt RMBS investors

    But it won’t help either
    There’s good news and bad news for RMBS investors when it comes to the $150 million settlement between Ocwen Financial and New York Department of Financial Services. The good news? Ocwen’s settlement won’t hurt RMBS transactions. The bad news? The settlement isn’t going to help RMBS transactions either.
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  • Bank of America’s dire mortgage bond prediction

    March's bond issuance was the second lowest since the early 2000s
    In order to pass $500 billion in purchase volume, BofA suggests that a mix of lower mortgage rates, higher affordability and easier lending standards would be required. “None of which appears forthcoming in the near term,” the bank's analysts state.
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