Secondary markets

Some stakeholders in the mortgage industry are concerned about the late 2023 deadline, but the government bond insurer said most are already prepared, and it'll work with those who aren't.

The option can be efficient but companies have to figure out who will handle the additional property data collection, panelists at the Digital Mortgage Conference said.

The post had been vacant on a full-time basis following Ryan Zanin's departure in May.

Waivers boomed during the pandemic's refi wave and the recent automation of desktop appraisals have provided additional flexibilities, but their applications are limited in the current market.

However, company executives said the treatment of mortgage servicing rights under the new rules going into effect late next year looks likely to lead to some consolidation.

While one analysis finds that publicly traded nonbanks may not be materially affected — contrary to the concerns expressed by Ocwen — Community Home Lenders Association said it could hurt moderately sized lenders.

The servicer is evaluating alternatives in light of the new rule the government bond insurer will put in place next year.

BofA Securities Inc. predicts that single-family rental securitizations — which repackage a single loan tied to multiple properties — will fall to just $2 billion for the rest of 2022 as Federal Reserve rate hikes send shivers across the industry.

Historically tight underwriting reinforced by regulation and third-party reviews could be buffers, so long as manufacturing standards for production and servicing hold up as residential mortgage companies downsize, according to KBRA.

At least one other nonbank wholesaler will be following suit, with more likely to follow.

A "Big 3" credit bureau is testing a direct data feed into a FICO score, and a top multifamily mortgage lender signed a multiyear contract with a high-profile fintech platform.

The company is acting nearly a month earlier than its competitors did in 2021, the first shot in this year's "loan limits wars."

A larger share of cash-out loans and slowing home-price growth is leading to expectations of more serious delinquencies down the road, according to Milliman.

This product, available throughout all of the company's channels, is characterized by interest-only payments over the first 10 years of the term.

Even though a Compass Point report states the pair have validated the credit scoring model and could implement it in the first quarter of 2023, interested parties would not verify it.

A mix of new distress and declining cures drove the uptick, according to dv01.

The numbers show that volume has been strong despite volatility in the market that at one point delayed a CRT deal from competitor Fannie Mae.

The government mortgage-bond insurer's technology initiative has made "huge strides" since June, when it relaunched with new flexibilities, President Alanna McCargo said.

In a letter addressed to the heads of the agency and of Ginnie Mae, the association asked them to consider recommendations made by a former government housing policy leader.

Updated counterparty requirements recently coordinated with the Federal Housing Finance Agency affect a constituency that has kept growing, albeit at a slightly slower pace, according to new mortgage-backed securities research.