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Secondary markets

Milliman buys Morvest in deal that deepens MSR expertise

Capital markets, M&A, Secondary markets, Servicing /

Milliman has acquired Morvest Capital, expanding the global consulting and actuarial firm’s reach in a specialized corner of the housing finance market. The company is adding a mortgage servicing rights analytics and risk-management provider through the transaction. Milliman did not disclose terms in its announcement. “This acquisition accelerates our growth in the mortgage sector and […]

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Jefferies expands credit reach with Hildene stake

Annuities, M&A, Secondary markets, Securitization /

Jeffries Financial Group is purchasing a 50% stake in the parent company of Hildene Capital Management, which has a secondary market/securitization arrangement with Crosscountry Mortgage. Concurrent with this transaction, Hildene Capital Management is acquiring the holding company for SILAC Insurance, a provider of fixed and fixed indexed annuities for $550 million in cash. Compensation for

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How Fannie, Freddie product mix could shift with a stock offering

Capital markets, Originations, Politics and policy, Secondary markets, The Great American Mortgage Corporation /

Even as the regulator for Fannie Mae and Freddie Mac floats new product ideas, the enterprises’ overall footprint has stayed fairly steady. Still, some experts think more shifts could be ahead as they move closer to a public offering. As is the case with many aspects of their business, a balance will need to be

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Warren warns CFPB on its ‘half-baked idea’ for mortgage-rate data

CFPB News & Analysis, Regulation and compliance, Secondary markets /

Senate Democrats are warning the Trump administration not to cut an arcane but critical function of the Consumer Financial Protection Bureau that underpins the housing market as officials move to dismantle the agency.  At issue is the CFPB’s weekly publication of Average Prime Offer Rate tables, a key benchmark enabling the smooth operation of the

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Industry pushes new HMBS to fix aging reverse loans

LOAN PRODUCTS, Originations, Secondary markets, Securitization, Underwriting /

A new type of reverse mortgage security needs to be created to accommodate Home Equity Conversion Mortgages that have reached the 98% maximum claim amount, a pair of industry organizations said in their respective responses to a government request for information. The RFI from the Federal Housing Administration and Ginnie Mae — along with their

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How GSE changes in LLPAs, MBS could shift rates

How GSE changes in LLPAs, MBS could shift rates

Capital markets, Mortgage Rates, Politics and policy, Secondary markets /

Bill Pulte, the director of the oversight agency setting policy for the government-sponsored enterprises, has pressed Federal Reserve Chair Jerome Powell to do more to lower mortgage rates but the GSEs themselves also have a hand in loan pricing that reform could impact. A Fannie Mae study notes that while the 10-year treasury yield, which

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Private credit organization starts counterparty watchlist

Fraud, Originations, Secondary markets, Underwriting /

A trade group representing private lenders has created a database to identify high-risk counterparties prior to funding real estate loans. The National Private Lenders Association has launched the NPLA Watchlist to help real estate lenders, brokers and service providers spot individuals or entities that may warrant caution — or even avoidance — in order to

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AI bond deluge pushes some investors to seek shelter in MBS

MBS, Secondary markets /

Money managers including Columbia Threadneedle are looking closely at US mortgage backed securities as a place to hide from high valuations in US corporate bonds and a wave of tech bond sales that could weigh on returns.   Overall US investment-grade issuance will probably top $800 billion in 2026, stripping out refinancings, a net increase

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GSE credit reform: Rent data impact on pricing and LLPAs

Credit, Fannie Mae, Freddie Mac, Secondary markets, Servicing /

The transition toward updated credit score models at Fannie Mae and Freddie Mac, while less dramatic than a new stock offering, is a fundamental shift with widespread industry implications. These newer models, VantageScore and FICO 10T, are designed to replace the classic FICO tri-merge report currently central to many mortgage systems. Given that classic FICO

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What Fannie, Freddie uplisting would change for the GSEs

Fannie Mae, Freddie Mac, GSE Reform, Secondary markets /

Multiple proposals have been in play for government-sponsored enterprises Fannie Mae and Freddie Mac, including some scenarios that could affect the status of their shares. The question for the industry now is how the various possible directions Fannie Mae and Freddie Mac could take will affect the many mortgage-related businesses that work with them. This

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