Items Tagged with 'mortgage bonds'

ARTICLES

  • Nomura to pay $25 million for mortgage bond traders' lies to customers

    SEC claims Nomura traders misled bond buyers and sellers
    Nomura Securities International will pay a fine of $25 million after the Securities and Exchange Commission accused several of the company’s former mortgage bond traders of lying to customers about the nature of the trades. According to the SEC, several Nomura RMBS and CMBS traders made “false and misleading statements” to customers while negotiating the sales of those bonds.
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  • Ginnie Mae removes loanDepot's VA loan restrictions

    Reinstates lender's ability to participate in all bond programs
    After nearly six months of being restricted from participating in some of Ginnie Mae’s mortgage bond programs as part of the agency’s crackdown on lenders for Department of Veterans Affairs loan churning, loanDepot is back in the game. Ginnie Mae announced Friday that it has removed the mortgage bond restrictions it placed on loanDepot earlier this year.
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  • REITs eye opportunities in the mortgage market as government pulls back

    Real estate investment trusts are beefing up their mortgage-bond portfolios, WSJ says
    Real estate investment trusts have not typically been huge participants in the housing finance market, but it seems the tide is quickly turning. According to a recent article in The Wall Street Journal, mortgage REITs have beefed up their mortgage-bond portfolios by nearly 28% year over year as of March, boosting their total collective investment to $308 billion.
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  • Morningstar to acquire DBRS in $669 million deal

    Two of the largest credit ratings agencies join forces
    Morningstar Credit Ratings announced today that it has entered into an agreement to acquire DBRS – the fourth-largest credit ratings agency in the world – in a $669 million deal. Combined, the two companies will become one of the largest ratings agencies for U.S. mortgage bonds. Click the headline for the full story.
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  • Tariff wars: What do Walmart and Target prices have to do with the housing market?

    Bond investors who set mortgage rates keep a wary eye on inflation
    When a top executive at Walmart told Wall Street analysts last week that tariffs on Chinese goods would lead to higher prices for his customers, people who follow the housing and mortgage industry felt a sense of foreboding. Higher consumer prices lead to higher inflation, which leads to higher mortgage rates.
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  • Ginnie Mae considering changes to VA loan rules as refinances continue to soar

    Requests industry input on prevalence of VA cash-out refinances
    For more than 18 months, HUD, Ginnie Mae, and the VA have been investigating whether certain lenders are aggressively targeting service members and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae even went so far as to issue new rules for VA loan refinances, restricting how soon a loan could be refinanced after its original origination date. And while Ginnie Mae says that those changes have made a positive impact, the agency is also now stating that more changes may be necessary to get the pervasiveness of VA loan refinances under control.
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  • Fannie Mae net income retreats to $2.4B in Q1

    Fannie Mae provided $102 billion in liquidity to the mortgage market this first quarter
    Fannie Mae reported Wednesday it posted a comprehensive income of $2.4 billion in the first quarter of 2019, according to the company’s quarterly earnings report. Overall, through its purchases and guarantees of mortgages, Fannie Mae financed 527,000 home purchases, refinancings or rental units this quarter.
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  • Bloomberg: Morgan Stanley and JPMorgan improve views of mortgage bonds as spreads widen

    Morgan Stanley tells investors to “go long” on Agency MBS
    Morgan Stanley is telling investors to “go long” on mortgage bonds and JPMorgan has raised its view of agency MBS, according to an article by Bloomberg News. The investment banks cited a wider spread between the 30-year Fannie Mae current coupon and various measures of Treasury bonds to back up their recommendations, Bloomberg reporter Christopher Maloney wrote.
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  • PIMCO hits secondary market with first non-QM mortgage bond offering

    $382.45 million deal contains loans originated by Capital One
    PIMCO, once a major player in the secondary mortgage market, is making a new mortgage play, as the bond giant is about to enter the secondary market for loans that don’t fit into the Qualified Mortgage box with a $382.45 million mortgage bond offering backed by loans originated by Capital One.
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  • Fannie Mae reports net income of $16B in 2018

    Brings $446.6 billion to the single-family housing market
    Fannie Mae reported comprehensive income of $3.2 billion in the fourth quarter of 2018, bringing its yearly earnings to $15.6 billion in 2018. Although the fourth quarter's income is down from the third quarter's $4 billion, its much higher than the fourth quarter of 2017, when it saw a comprehensive income of $2.3 billion.
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