Secondary markets

Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."

The senior tranche of Angel Oak 2017-3 benefits from 46.25% credit enhancement, up significantly from 37.75% for the sponsor’s July transaction, but in line with its April deal.

Fannie Mae servicers are facing pressure from the recent hurricanes, but so far are bearing up under the strain.

Credit Suisse's plan for consumer relief in a multibillion-dollar Department of Justice settlement related to residential mortgage-backed securities could reduce the costs involved, according to the settlement monitor's first report.

Called Structured Agency Credit Risk Securitized Participation Interests, the new securities are backed by mortgage loans, and are not general obligations of the government-sponsored enterprise.

Many of the prime jumbo loans backing the transaction, JP Morgan 2017-4, were contributed by originators with limited history in that product, according to DBRS.

Fintech and marketplace lender LendingHome is getting more than $450 million in investment and funding from different channels to help support mortgage production growth and technology improvements.

With a debt deadline looming and regulators again delaying approval of its takeover by China Ocwenwide, Genworth Financial is weighing how to protect its private mortgage insurance unit from its troubled life insurance business.

Fed economists are suggesting a new mortgage product that would allow home buyers to build equity faster and give banks incentive to profitably hold the loans in portfolio.

Lima One Capital is expanding its single-family investor financing business by acquiring the residential debt business of the marketplace lender RealtyShares.

Former Ginnie Mae President Ted Tozer will join securitization pioneer Lewis Ranieri at a new housing policy team at the Milken Institute.

As head of Fannie Mae's single-family mortgage business, Andrew Bon Salle wants to ease the burden of loan-level price adjustments, streamline condo loan approvals and expand rep and warrant relief. But even he admits there are limits to his power.

The government-sponsored enterprise is still looking for the right balance between offering a product that's attractive to investors and a cost-effective way to reduce risk.

Radian Group posted a net loss of $27.3 million on charges associated with the planned restructuring of its underperforming mortgage and real estate services unit.

Freddie Mac is on track to double the number of low down payment mortgages it will buy in 2017, while continuing to see its serious delinquency rate fall to record lows.

The government-sponsored enterprises transferred $5.5 billion of credit risk on $174 billion of mortgages in their portfolios during the first quarter.

As demand for new homes outpaces supply, it is essential for mortgage lenders to pursue strategies that stimulate inventory levels, such as supporting builders with construction financing and offering homebuyers single-close construction-to-permanent loans. (The first in a four-part series on the mortgage industry's response to the housing inventory shortage.)

From the largest banks to the smallest independents, policymakers want to hear the mortgage industry speak with one voice in the critical efforts to reform the government-sponsored enterprises.

Affordable housing shortages and declining loan volumes are making it difficult for banks to originate enough mortgages to meet their Community Reinvestment Act obligations, which could make filling shortfalls with loans from nonbanks more expensive.