The Mortgage Bankers Association is calling for a merger of Fannie Mae and Freddie Mac’s mortgage bonds both as a “first step” in transitioning into a single security. The change would save taxpayers billions and ensure a liquid and stable housing finance system, the group believes.
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The Federal Home Loan banks (FHLBanks) increasingly turned to offering short-term, unsecured credit to financial institutions exposed to the turmoil in Europe as the 12-member cooperative's own core business dwindled, a government watchdog said Thursday.
June 28 -
Servicers supervised by the Office of the Comptroller of the Currency completed fewer loan modifications in the first quarter as the number of delinquent borrowers who need assistance appears to be shrinking.
June 27 -
The nation’s balance of delinquent loans shrank by another 37% in the three-month period ending in May while the market still is catching up with the consequences of bad underwriting during 2005-2007.
June 27 -
Highland Capital Management will stay on as the manager of a $950 million collateralized loan obligation after all.
June 27 -
Data provider CoreLogic announced today that it has incorporated anomynized servicer stop advance data into its private-label RMBS dataset.
June 27
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Standard & Poor’s believes that the current positive trends in the U.S. auto sector will continue into 2H12. They expect ABS issuance in auto-related collateral to exceed their $80 billion forecast this year.
June 27 -
The National Association of Realtors’ (NAR) leading indicator of future home sales rebounded in May after an unexpected downdraft in April.
June 27 -
For the week ending June 22, the Refinance Index declined 8% to 4955 from 5386 - its highest level since April 2009. Over the previous two weeks, the index jumped 20% largely as a result of a surge in the Government Refinance Index as pre-June 2009 borrowers took advantage of a drop in mortgage insurance premiums on streamlined refinances that became effective June 11. Also, as a percent of total application activity, refinance share slipped to 79% from 81% previously.
June 27 -
Capital requirements under the new bank capital rules released by U.S. regulators will be computed based on three formulas, although U.S. banks are expected to mostly gravitate to only one.
June 27 -
Fitch Ratings said that uncertainty surrounding the Dodd-Frank Act, particularly in terms of the qualified residential mortgage (QRM) definition, has led many traditional RMBS issuers to postpone their issuance plans.
June 26 - Europe
The European Central Bank announced a relaxation of its criteria for repo eligibility on Friday.
June 26 -
After a long winter of price declines, Standard & Poor's (S&P) finally reported that its 20-city house price index (HPI) turned up in April.
June 26