Secondary markets

Mortgage subservicing opportunities open up as transfers rise: BSI

Rate volatility stemming from the banking crisis temporarily disrupted trading, but a broad range of deals large and small have gone up for bid since then.

Mission-driven entities will have priority on 50% of loan pools secured by Home Equity Conversion Mortgages.

Truist Financial Corp. plans to stop sales and trading of mortgage-backed securities and government-agency and Small Business Administration bonds by January.

The agency added increased emphasis on loss mitigation and special purpose credit programs following heightened calls for more participation in the latter from a minority trade group.

The inspector general linked the problems to staff turnover and recommended improvements to policies around documentation that the housing agency agreed to make.

Convicted former MBA Chairman Ron McCord and his Oklahoma-based company settled CapLoc's allegations that they put fraudulent loans on a funding line.

In total, around 98,000 loans with a principal balance of $31.8 billion are in the cover pools for the two new insurance-based transactions.

The primary cause is agency put-backs and fixing the problems is difficult in a rising rate environment.

The company shifted $189 billion of agency mortgage-backed securities to held-to-maturity on its balance sheet, shielding its shareholder equity from unrealized losses.