Secondary markets

The $146 million deal could indicate that volume in the asset class has gotten large enough to support programmatic activity in the pricey housing market.

“I myself believe that the ‘substantial further progress’ standard has more than been met with regard to our price-stability mandate and has all but been met with regard to our employment mandate,” Fed Vice Chair Richard Clarida said Tuesday.

Kind Lending founder Gary Stearns told the National Association of Mortgage Brokers that the wholesale channel always feels the pain first in a slowdown and that changes were coming to the industry after a remarkable run, writes the chairman of Whalen Global Advisors.

Common Securitization Solutions has disbanded a group of independent board members originally brought on in early 2020 to look into using the government-sponsored enterprises’ platform to serve a broader market.

The purchase of home, mortgage and title assets for roughly $471 million in cash allows the buyer to expand into Houston, Dallas and San Antonio and increase its presence in Austin.

Both third-party lenders will purchase conforming loans with balances of $625,000 — 14% higher than the current limit — in anticipation of regulators' action.

While PLS loans still represent a sliver of the overall mortgage market and are nowhere near the $1 trillion level seen before the Great Recession, issuance jumped markedly this year.

More than 19% of the related loans are early buyouts from securitized pools, and the deal is one example of growing bulk sales activity in the market.

The Federal Housing Finance Agency agreed to rework and improve procedures for regulatory communication about issues like servicing lapses in response to a recent inspector general audit.

Sara Avery previously worked for Common Securitization Solutions, which manages the issuance of the two government-sponsored enterprises’ bonds, including their uniform mortgage-backed security.