Finance

The Federal Housing Finance Agency agreed to rework and improve procedures for regulatory communication about issues like servicing lapses in response to a recent inspector general audit.

CIM is secured by home loans making the most of second chances, and borrowers retaining their homes throughout several economic dips.

Many banks are still making loans tied to the scandal-plagued benchmark despite years of preparation for its demise. The end of 2021 could prove hectic as bankers scramble to implement changes and explain them to commercial borrowers.

Sara Avery previously worked for Common Securitization Solutions, which manages the issuance of the two government-sponsored enterprises’ bonds, including their uniform mortgage-backed security.

But the amount of forborne loans packaged into Ginnie Mae securities was up by 3 basis points on a consecutive-week basis, suggesting a concentration of distress there, amid broader declines.

The transaction is also the first securitization for ACREC. The entity is also taking on multiple roles, acting as sponsor, issuer and collateral manager.

Despite the increase, adjustments to single-family loan terms aimed at making payments more affordable remain historically low at the government-sponsored enterprises. But they could grow in line with forbearance expirations soon.

The move marks one of the first actions the two government-sponsored enterprises and the Federal Housing Finance Agency have taken to make a pandemic-related loss mitigation option open-ended.

The difference between purchase contract prices and valuations was consistently wider than in white neighborhoods, according to a recent analysis of 12 million appraisals from the Uniform Collateral Data Portal.

The company will return to selling pieces of its credit exposure to private investors during the last three months of the year, but is still evaluating its strategy for 2022.

Sequoia Mortgage Trust is among the first to include a distributed ledger agent in its reporting processes.

Changes proposed this week stand to reverse the effect of the Trump-era rule, which disincentivized Fannie Mae and Freddie Mac from making such deals, according to critics.

While the loss coverage is subsequently lower for the notes, totaling $194.2 million, it is expected to be sufficient to cover required rating multiples.

The Department of Housing and Urban Development increased the share of reverse mortgage assets it will give community organizations a first crack at, in line with goals of the Biden administration.

Required use of the Federal Housing Administration’s Catalyst platform may accelerate data collection on valuations from a government agency that’s insuring nearly one-fifth of all purchase loans.

The move generally gets a thumbs up from industry participants, but what can happen in the long-term is uncertain.

Critical defects fell as well, but the percentage that are related to income or employment concerns set a new record, surpassing the one set in the second quarter of last year.

Rather than add debt through a HELOC, the company’s product allows clients to get cash in exchange for a portion of the property's value.

Fitch Ratings’ second quarter numbers suggest even those facing some of the highest repayment hurdles may have been motivated enough by economic improvement to exit before many expirations were due.

The fintech projects the Series C capital will enable $10 billion in annual housing transactions through its system and expansion to half the U.S.