The Federal Housing Finance Agency has appeared willing to take its own steps to reform Fannie Mae and Freddie Mac, but legislation would be necessary to create an explicit guarantee of the mortgage system.
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The bank regulators extended a moratorium for the proprietary trading ban for certain affiliates of foreign banks by an additional two years.
July 17
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The firms jointly announced that Erin Stafford will head the NA commercial mortgaged-backed securities ratings team and Quincy Tang will lead the residential MBS group. Stafford and Tang currently hold similar roles with DBRS.
July 16 -
Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other factors will continue to hold back home purchases.
July 16
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Verus Securitization Trust 2019-INV2 is backed by investor loans secured by 1,042 rental properties. The loans were originated by 76 different lenders.
July 16
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Occidental Management is sponsoring a single-asset, single-borrower deal through JPMorgan backed by the fee simple interest from receivables of a lease-buyback arrangement with Sprint Corp.
July 16
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China has few alternatives to replace its dependence on the U.S. market for soybeans, its major U.S. agricultural export, according to Moody’s.
July 15
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For the first time, the captive-finance lender has also opted to add SOFR-based benchmark rate "fallback" plans into one of its deals, which would stand in for one-month Libor should the London interbank offered rate becomes unavailable in 2021.
July 15
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Life insurance companies increased their mortgage investments to levels higher than historical norms, creating more potential danger for their portfolios in the event of a real estate downturn, a Fitch Ratings report said.
July 15
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MPL securitizations have yet to face a credit-cycle test. The discussion over how they will handle one is intensifying.
July 14
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The more than $44 billion in new Ginnie Mae mortgage-backed securities that came to market in June marked the strongest month for the government bond insurer in more than two years.
July 11
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Treasury and HUD are close to unveiling administrative and legislative options for ending the conservatorships of Fannie Mae and Freddie Mac. Will their findings be heavy on detail or leave a lot unanswered?
July 9
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The agency had decided not to challenge a recent court ruling that its structure violates the separation of powers, but newly confirmed Director Mark Calabria now appears willing to the fight the case.
July 9
