Saxon Capital Inc. has reported the securitization of nonconforming and conforming mortgages in a $900 million transaction.RBS Greenwich Capital was the lead manager on the deal, Saxon Asset Securities Trust 2004-3. Merrill Lynch & Co., JP Morgan, and Credit Suisse First Boston were co-managers. Saxon can be found on the Web at http://www.saxoncapitalinc.com.
Heading into this week's Federal Open Market Committee meeting, the Fed's core indicators are painting a different picture of the economy than real-time measures, injecting more uncertainty into Wednesday's FOMC meeting than usual.
The agency proposed to repeal a regulation that requires FHLBanks to submit formal notices before engaging in new business activities that carry unmanaged risk.
So far this year, the volume of closed-end second and home equity line of credit securitizations is near last year's $29 billion, Bank of America Securities said.
Home price growth is accelerating as inventory stalls—Chicago and Pittsburgh lead mid-tier gains at 4.2%, while Denver and Las Vegas see supply-driven price corrections.
The industry leaders are sparring over refinance business from a Mr. Cooper portfolio, and UWM contends it didn't specifically try to harm its rival.
The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.
