Secondary markets

As the Trump Administration looks for savings in the bloated federal housing complex, the most obvious opportunity is to return defaulted assets to the private sector, writes the chairman of Whalen Global Advisors.

The exemption from the temporary restriction the government securitization guarantor introduced last month could help smaller issuers.

Interested parties have until July 5 to give their views regarding the new standard for home equity line of credit electronic closing documents.

Loans with alternative documentation and high combined loan-to-value ratios had more performance concerns, according to a new KBRA study.

Wall Street is cranking up the bond machine as US homeowners, finding that buying a new house is out of reach since mortgage rates started climbing in 2022, are instead getting home equity loans and sprucing up their current properties.

Securitizations are breaking new ground and whole loan investors have been active as nonbanks increasingly originate and sell second lien products.

The new notes redeem older ones issued in 2018 and address the kind of near-term obligation that analysts have monitored closely at nonbank mortgage firms.

The product, as well as the housing market, is different today than what it was two decades ago, where some feel it was a cause of the financial crisis.

The company wants some holders of bonds due next year to allow a higher debt-to-equity ratio so it can pursue strong returns while managing certain risks.

Besides the investment, Citi was also the sole bookrunner on Vontive's first-ever securitization, made up of $150 million of residential transition loans.

The company anticipates a $139.8 million contingency liability and nearly $60 million related expense in a court battle with Pine River Capital Management.

Analysts awaiting specifics on the "implicit guarantee" for Fannie Mae and Freddie Mac are split on whether mortgage rates and guarantee fees could rise.

The Mortgage Industry Standards Maintenance Organization has created a new version of, as well as enhanced the current edition. of its reference model.

Bill Pulte and the government-sponsored enterprise's chief executive will be working with a firm that analyzes big data and utilizes artificial intelligence.

President Donald Trump said that the US government would retain guarantees and an oversight role over Fannie Mae and Freddie Mac even as he pursues a public offering for the mortgage giants.

The transaction is the fourth of its type the company has done this year through the partnership it has had with Crosscountry Mortgage since late 2022.

By restructuring the GSEs into public utilities, we can end decades of free-riding by private investors on the public credit, writes the chairman of Whalen Global Advisors.

The notion that the enterprises could be a source of revenue has led to a suggestion that the funds from a public offering could be reinvested in housing.

Panelists at the Mortgage Bankers Association's conference credited investors for helping create the conditions strengthening performance of non-QM portfolios.

The president said he would consult with the heads of Treasury, the Commerce Department and the Federal Housing Finance Agency he comes to a decision.