Secondary

Commercial mortgage-backed securities late-pays in August fell 10 basis points to 6.68%, a milder decline than the record 40 basis point month-to-month drop experienced in July.

Shellpoint Partners' second sale of home-loan securities without government backing comes after the restructuring of its initial transaction.

U.S. Bancorp expects its mortgage revenue to drop 20% in the third quarter from the second period amid a decline in mortgage applications and mortgage production.

Kroll Bond Rating Agency has assigned preliminary ratings to six classes of mortgage pass-through certificates from another Shellpoint Asset Funding Trust deal.

The reform bill authored by Sens. Bob Corker and Mark Warner requires credit enhancers to put 10% capital behind every newly issued mortgage-backed security.

Five years ago this month, the Federal Housing Finance Agency, barely a month old, faced a crisis.

Realtors, homebuilders and small lenders are warning that a GSE reform bill approved by the House could curtail mortgage lending and harm the economy because it does not provide a federal government guarantee to protect MBS investors.

The Housing Policy Council supports the GSE reform proposal crafted by Sens. Bob Corker and Mark Warner, but it goes too far in requiring guarantors to take a 10% first-loss position on privately issued MBS.

The Texas state constitution must be amended for lenders to be able to offer the HECM for Purchase product, proponents said.

If implemented as-is, the latest risk retention proposals that U.S. regulators released Aug. 28 will lead to changes in deal structure and credit quality in commercial mortgage-backed securities.