Finance

The increases set to go into effect in February help some offset breaks for first-time buyers but also limit options for existing borrowers.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases, signaling the central bank was leaning toward downshifting to a 50-basis-point hike in December.

While Bids Wanted in Competition have been used by MBS sellers in the past, a lack of standardization of data points has reduced competition and price, the organization said.

The uptick in cash balances might indicate the challenges issuers are facing originating new loans for reinvestment in commercial real estate CLOs.

Nonbanks will probably see the least change, while securitization lenders, depositories and REITs are likely to experience the most, an Urban Land Institute survey suggests.

Mortgage bonds are close to the cheapest they've been since the financial crisis by some measures, and money managers like Pacific Investment Management Co. are betting that prices have fallen far enough to make the securities a great buy now. 

Two vendors have added non-agency mortgage and co-issue servicing sales respectively, and a government agency has confirmed that it's working on overcoming a hurdle to more scalable eNote use.

However, the downturn will be brief and housing will lead the way out, the government-sponsored enterprise concluded.

Scores will be assigned to all loan pools created since 2010, including future securitizations, and are expected to help investors determine the share of mortgages meeting specific characteristics.

While rising rates buoy revenue for the country's largest banks, in the short term they also force them to write down the value of assets they hold on their balance sheet, exacerbating a capital squeeze that's prompted most of them to halt buybacks.

NYSE American accepted the mortgage company's plan to resolve an existing concern but its persistent losses raised a new issue.

The 15-year fixed-rate mortgage saw an average rise of 6 basis points that was higher than the overall gain, according to a retrospective report issued Wednesday.

The agency failed to fulfill some watchdog recommendations and get reports related to "human capital" and diversity finalized, the annual analysis found.

A combination of fewer mortgage originations and investment losses for some companies contributed to declines.

The government mortgage-bond insurer's requirements that restrict investor involvement are likely the greatest challenge to finding more purchasers of MSRs, experts said at a servicing conference Monday.

The non-qualified mortgage lender lost $13 million in the quarter, a slight improvement over the previous period.

If rights holders have to sell these assets because of the Ginnie Mae capital rule, it will increase rates for lower income consumers.

The Federal Housing Finance Agency is reducing the amount lenders can sell to a government-sponsored enterprise by $3 billion next year.

The company experienced further declines in production volume but reported an intra-quarter improvement in its gain on the sale of loans.