Secondary

The fast-paced rise in rates should be good for banks — until it isn't. The higher interest earned on loan payments will at some point be offset by higher interest paid on deposits. The only questions are: When, and by how much?

Questions remain around switching benchmarks that could result in unexpected refinancings

Although the Federal Housing Finance Agency did move ahead with a controversial upfront charge aimed at covering commingled securities risk, it also committed to exploring alternatives that would address concerns from trade groups.

One of the secondary market alternatives the Federal Home Loan Banks of Chicago and Indianapolis offer has a new servicing partnership with PHH, and interest in further cultivating their community lending potential is growing.

Most distressed borrowers who obtained adjustments to their payment amounts saved more than 20% in the first quarter, according to the Federal Housing Finance Agency.

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.

The package of Fannie Mae, Freddie Mac and Ginnie Mae MSRs has some unusual geographic concentrations and a nearly 2.63% delinquency rate, including foreclosures.

The Federal Housing Finance Agency is moving forward with the charge but also pledged to ensure it doesn’t undermine the uniform security’s advantages the way trade groups say it could.

The mortgage REIT announced its name change in conjunction with the internalization of management activities.

Industry experts discuss evolving strategies in the hot MSR market as risks related to prepayments decline but concerns around credit and housing finance firms’ liquidity grow.