Securitization

Ginnie Mae and the Department of Veterans Affairs have described in more detail the VA loan refinancing practices they will crack down on to eliminate a long-running churning concern.

Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.

CFPB Director Richard Cordray is using the Equifax breach to suggest the CFPB be given power to examine credit reporting agencies for potential cybersecurity lapses.

The Treasury Department is expanding its calls for overhauling regulation of the financial services sector, this time focusing on changes to the most significant rules surrounding securitization and derivatives.

Ginnie Mae mortgage-backed securities issuers can aggregate their portfolio's exposure to areas hit by the three recent hurricanes to qualify for its disaster relief program.

Select Portfolio Servicing grew its mortgage servicing rights portfolio by over 14% in the second quarter by targeting opportunities in the nonagency loan market.

Ocwen Financial Corp. received more breathing room on the legal front as the Securities and Exchange Commission is not pursuing an enforcement action against the company regarding its debt collection practices.

Hurricane Irma will have more of an impact on Ginnie Mae securities than Harvey or Maria, a recent analysis by the government agency shows.

Wall Street firm Morgan Stanley is almost done completing tasks mandated under the terms of a mortgage settlement in New York.

Trepp reports that further declines are possible as the wave of maturing pre-crisis mortgages appears to have been reduced to more of a ripple.

Ginnie Mae will more closely examine liquidity at all issuers in response to complaints by the HUD inspector general that it would be vulnerable to defaults at nonbanks it does business with.

The amount of commercial and multifamily mortgage debt outstanding ticked up from April through June, yet the balance of loans in commercial mortgage-backed securities continued its decline.

Nearly half of the properties are in New York (30.3%), New Jersey (10.4%) or Florida (8.7%), states that require a court to sign off on a foreclosure, a lengthy process that could affect the timing of payments.

Ginnie Mae is giving expanded loan buyout authority to certain issuers in order to help them remove loans affected by Hurricanes Irma and Harvey from securitized mortgage pools.

Vandy Fartaj, the firm’s chief capital markets officer, says a novel deal structure allows the real estate investment trust to issue additional term notes its portfolio of mortgage servicing rights grows.

Investor demand for mortgage bonds is strong; the only limiting factors are consumer awareness of the product and loan officers' willingness to offer them.

The U.S. is investigating lenders for allegedly pressuring veterans and members of the military into unneeded mortgage refinances — unsavory conduct that not only leads to higher consumer costs but has consequences for one of the world’s largest bond markets.

Damage from Hurricane Irma could potentially put billions of dollars in commercial mortgage-backed securities at risk, according to Morningstar Credit Ratings.

Morningstar thinks that $38.94 billion of CMBS loans that it rates in Florida could be impacted; it sees another $19.38 billion of exposure in Georgia, $5.16 billion in Alabama, and $5.03 billion in South Carolina.

The Terrorism Risk Insurance Act was created after 9/11 to serve as a crucial federal backstop for commercial real estate insurers, but an analysis of alternatives to fund the program reveals the continued challenges of measuring and predicting terror risk.