Capital markets

There were two events in the weeks leading up to the New York Association of Mortgage Brokers annual convention which would have an impact on attendees and their immediate future.

The author sees elements of mutual fund sales in the commercial originations business.

The Federal Home Loan Bank System has a new $3 billion, two-year global note in the works that it has plans to price Thursday.

The New York Association of Mortgage Brokers annual convention was delayed by Hurricane Sandy and that was a big topic of conversation at the show. One of the presenters at the Melville gathering was a representative of the Small Business Administration. Sandy was a topic during Origination News' roundtable with NYAMB's board.

Egan-Jones Ratings was barred from grading government debt and asset-backed securities for 18 months after settling charges it made material misstatements to the Securities and Exchange Commission.

A Fitch presale report on the second Sequoia/Redwood Trust deal of 2013 is out.

Moody’s Investors Service has withdrawn ratings on $122 million of pre-2005 residential mortgage-backed securities deals issued between 1996 and 2004 as cash flows from these older deals have diminished to very low levels with age.

First Financial Network announced an $85 million loan sale of several assets held by the failed NOVA Bank for which the Federal Deposit Insurance Corp. is acting as receiver.

A report from Keefe, Bruyette & Woods said that while the fourth-quarter results reported by the large mortgage originators have been positive, its concerns over the sustainability of the current mortgage banking environment going forward has increased.

The Treasury Department is considering ways to help underwater borrowers with private mortgages to refinance into a lower interest rate and reduce the risk of default.

We're hearing there’s no easy way to get a high rating on an REO-to-rental securitization.

National home values finished 2012 with the largest annual gain in six years since the peak of the housing bubble.

NewDay USA will now be a correspondent purchaser of the Federal Housing Administration’s Home Equity Conversion Mortgage for Purchase program.

KB Home has taken its relationship with Nationstar Mortgage to the next level, forming a joint venture mortgage banker company to be called Home Community Mortgage.

Fannie Mae’s final numbers for multifamily securities issuance backed by new loans during the fourth quarter of 2012 are in, and top $10 billion for the period.

The wholesale channel is regaining market share and that should be the case in 2013.

The mortgage industry is facing a “regulatory tidal wave” as regulators are finally issuing the new rules mandated by the Dodd-Frank Act of 2010.

About $1.5 billion in California redevelopment agency bond proceeds are in limbo as the state government challenges whether the agencies had any right to issue them.

Banks were initially slow to sell nonperforming loans in the wake of the downturn.

Issuers of securities tied to U.S. rental homes will struggle to obtain ratings above the lowest investment-grade tier from Moody’s Investors Service unless they choose structures with higher expenses.