Finance

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

A new wave of interest in partnerships between investors and mortgage companies is emerging.

California has been more typically prevalent in other offerings, but this nearly $817 million package of rights to borrowers’ payments is one exception in a hot market limited only by capacity constraints.

Equitable housing initiatives the government–sponsored enterprises detailed Wednesday will rely on mortgage company uptake of experimental underwriting strategies.

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 credit card issuer Synchrony Financial recently used FICO’s top competitor in a $1 billion deal. The choice is significant for VantageScore, but FICO remains the dominant credit score in the securitization market, according to analysts.

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

However, in line with promises housing agencies have made to be cautious in their expansion of underwriting, new rules around financing for properties with accessory dwelling units still have several guardrails.

Fannie Mae and Freddie Mac will need to submit annual capital plans to the agency. The move follows the introduction of new public disclosure requirements through a separate action last week.

The effects on nonbanks will depend on the mix between their production and servicing operations, Fitch Ratings said.

Dynex Capital CEO Byron Boston sees the slow process of unwinding the Fed’s balance sheet, which officially began Wednesday, as an opportunity for his company.

The Federal Reserve is about to start shrinking its $8.9 trillion balance sheet, deploying a second tool along side higher interest rates to curb inflation, though officials don’t know just how effective it will be.

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.

Non-depositories historically haven't been big originators of home equity lines of credit, but fintechs that offer the easily automated countercyclical products are reporting growth.

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.

The Treasuries market is girding for potential disruptions from the next and trickiest stage of policymakers’ tightening campaign: the shrinking of an $8.5 trillion bond portfolio.

Servicers unfamiliar with the registry's requirements of having up-to-date policies and procedures in place are responsible for the increase in findings, MetaSource found.