Capital markets

KBRA recently assigned low-end investment grade designations to Freedom Mortgage and Pennymac transactions that involve interests in Ginnie Mae mortgage servicing rights.

Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.

Former Trump administration officials Steven Mnuchin and Joseph Otting are headlining an investment group that's seeking to rescue the troubled Long Island lender. Otting is expected to serve as CEO, and Mnuchin will have a board seat.

Basel Endgame rules will dramatically boost the capital provisions banks have to set aside to backstop lending, with the burden falling most heavily on big money center banks.

Contenders see plenty of room for the market of EFTS investing in CLOs to grow. The question is if they can potentially usurp some of banks' dominance in AAA-tranche investing.

The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.

The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.

The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.

But Fannie Mae and Freddie Mac conducted no private-market sales of nonperforming loans early last year as adjustments were made to the program.

Interest rate-related developments have reportedly created an environment where more mortgage firms are interested in selling and investors are eager to buy.

Industry consolidation has resulted in fewer conventional and government loan programs being offered to consumers.

December's shift in Federal Reserve policy gave a notable boost to the share of consumer respondents who think the affordability of home financing will improve.

The delinquency rate that Kroll Bond Rating Agency tracks improved last month but JER's recent Chapter 11 filing and 2024 forecasts suggest it's still under pressure.

The year-end yield on the bond, a global anchor for markets and U.S. mortgage rates, is the culmination of a stunning rebound for Treasuries.

The U.S. may be less rate-sensitive than other countries due to its long-term mortgages but could face tighter credit from hard-hit financial institutions.

Mortgage-backed securities' strong showing since mid-October defies a textbook theory that they typically underperform other types of bonds when yields are falling.

Citizens' SVP and director of mortgage secondary and capital markets reflects on what her experience with past cycles suggests about where this one may be headed.

While the government-sponsored enterprise cut its origination forecast for this year, the Mortgage Bankers Association's updated forecast was unchanged from its October prediction.

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.