Secondary markets

The Mortgage Industry Standards Maintenance Organization drew up the recommended wording in consultation with a group of lenders and investors after the passage of the Taxpayers First Act last year.

Frank Pallotta sold Wall Street services to lenders and later helped create programs to help underwater borrowers. Now he's running to represent a district both parties fight hard over.

Retiring Ellie Mae CEO Jonathan Corr and new ICE Mortgage Technologies President Joe Tyrrell discuss how the two companies will be merged.

The restrictions on the pooling of loans with any interest term based on Libor will be effective for traditional mortgage-backed securities issued starting Jan. 21, 2021, and earlier for reverse-mortgage securitizations.

Bondholders could see principal losses if, due to the way the documents are worded, the rate is frozen at the last published amount.

The deal brings yet another mortgage origination component under the same roof.

Electronic notes did come in handy this year given the mortgage industry's need to operate remotely, but they also increase the government-sponsored enterprises' responsibility for monitoring the risk of multiple counterparties.

After being approved, retroactively denied and having a second application rejected, the firm is appealing the decision with federal regulators.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

Uncertainties in the job market drove mortgage credit availability down again, falling to the lowest point since March 2014, according to the Mortgage Bankers Association.