Capital markets

The former lender’s abrupt closure Wednesday and First Guaranty’s recent bankruptcy filing highlight difficulties in the current mortgage environment despite nonbanks being on stronger financial footing than their counterparts of 14 and 24 years ago.

The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.

Rising interest rates eliminated any refinance incentive for 30% of the loans analyzed by Standard & Poor's, marking a turnaround from the start of the year when prepay speeds were expected to increase

Fannie Mae and Freddie Mac asked originators to resubmit applications that contained errors and adjust sold mortgage information due to incorrect life-of-loan representations and warranties.

The inability to include both types together in standard loan pools has been one of the hurdles to the adoption of digital collateral.

Privately securitized mortgages made by these institutions have already exceeded 2021 levels, however some of the collateral lacks income verification, according to a new KBRA report.

Mortgage companies selling loans to the government-sponsored enterprise will be able to use the information for one type of employment check as well as to validate income and assets.

The government-sponsored enterprises will start releasing information similar to what large banks already do, starting in the first quarter of 2023.

The acting head of the Federal Housing Finance Agency will become the first African American woman to lead the agency as a result of the vote Wednesday.

But the REIT, which invests in mortgages that have to be verified through nontraditional means like bank statements, has seen an improvement in its outlook since the first quarter.

Fair value increases on existing business and an accounting change made for troubled debt restructurings likely explain why its results contrasted those of competitor Freddie Mac.

While the government-sponsored enterprise’s single-family mortgages are still not performing as well as they did before the pandemic, the most recent vintages are getting there.

Anticipation of the Federal Reserve’s balance-sheet reduction is weighing on bonds backed by mortgages, but the actual event may make them an attractive alternative to corporate debt.

The government-sponsored enterprise has already done twice as many of these deals as it did during all of 2021.

Former Wells Fargo executive Michael Heid is the new chairperson, while David Benson, currently president, also becomes interim chief executive.

Originators offered fewer high loan-to-value and lower credit-score products, but jumbo offerings increased for the 10th time in 12 months, the Mortgage Bankers Association said.

The two latest transactions follow in the wake of the government-sponsored enterprise’s first deal of the year and the release of a finalized capital rule aimed at facilitating broader risk-sharing.

The company claims its digital registry system is a faster, safer alternative to MERS databases

Company management believes it can still be successful in the securitization market despite widening spreads.

Executives speak on the uncertainty created by the Russia-Ukraine war and Federal Reserve announcements.