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U.S. Fintech

UMBS a key risk in any GSE ownership change: report

Capital markets, Mortgages, Secondary markets, U.S. Fintech /

The idea of potentially unwinding all or part of the uniform mortgage-backed securities process has resurfaced in an analysis of government-sponsored enterprise ownership changes. Processing Content The report by capital markets and policy experts who are part of the Treasury Market Practices Group looks more broadly on what potential ownership changes contemplated at the GSEs could portend, […]

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FHFA plan renews its effort to grow counterparty oversight

FHFA, Mortgages, Politics and policy, Secondary markets, U.S. Fintech /

The Federal Housing Finance Agency’s latest performance review plan emphasizes interest in having more power to review Fannie Mae and Freddie Mac’s business partners. Processing Content “Currently, US Federal Housing does not have statutory authority to oversee third-party service providers. These third-party relationships can potentially pose risks,” the agency — which Director Bill Pulte alternately

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Freddie Mac ending exchange offer used to create UMBS

Capital markets, Secondary markets, U.S. Fintech /

Freddie Mac has announced that it is closing the book on a temporary exchange offer used to make uniform trades of to-be-announced mortgage-backed securities possible several years ago. Processing Content The decision follows the reduction in the size of the market for older bonds that predated the arrival of UMBS in 2019. Around $1.5 trillion

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How Basel, GSE changes may upend MSR dynamics

GSE Reform, Secondary markets, Servicing, U.S. Fintech /

The mortgage servicing rights market changed dramatically when the government-sponsored enterprises went into conservatorship and Basel bank capital rules tightened, so stakeholders are watching the review of both carefully. Those two historic changes created the “perfect storm” for MSRs that led to a concentration of large nondepository players, an advocate for mid-sized banks said at

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