Secondary markets

Why FHFA may bet on CSP to reform Fannie, Freddie

Fannie Mae, Freddie Mac, Politics and policy, Secondary markets / Ricky Vasquez

Recent plans for a jointly owned government-sponsored enterprise entity that serves as a common securitization platform (CSP) for their bonds appear positioned as the most likely way to achieve monetization goals the Trump administration has for Fannie Mae and Freddie Mac. Even before Common Securitization Solutions repositioned as U.S. Financial Technology experts had identified the […]

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FICO challenges FHFA’s VantageScore decision

Credit scores, Originations, Politics and policy, Secondary markets, Underwriting / Ricky Vasquez

The FHFA’s nod to VantageScore 4.0 — and silence on FICO’s rival 10T model in a recent X post — has reignited a bitter fight over the future of mortgage credit scoring. A B of A Global Research report dated July 11 on the agency RMBS market pointed to the imprecise language in the post

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Chase’s lower 2Q margins a negative for IMB earnings

Earnings, LOAN PRODUCTS, Originations, Secondary markets, Servicing / Ricky Vasquez

Lower gain on sale margins at JPMorgan Chase could be a negative sign for independent mortgage banker results in the second quarter, a Keefe, Bruyette & Woods report said. The drop in margins at both Chase and Wells Fargo came even as origination volume rebounded at both banks. It was up 44% from the first

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Non-QM drives RMBS H125 gains amid uncertain outlook

Housing markets, RMBS, Secondary markets / Ricky Vasquez

For the rest of 2025, it’s an open question if the non-agency mortgage-backed securities market maintains its strong performance from the first six months, given the backdrop of tariffs, economic uncertainty and housing affordability, said Morningstar DBRS. Issuances in the first six months of 2025 topped volume for the same period in 2024 and credit

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Fannie, Freddie change rules for contributions, incentives

Homebuilders, Mortgage Rates, Originations, Regulation and compliance, Secondary markets / Ricky Vasquez

Recent updates to secondary-market rules for interested party contributions and incentives mean lenders will have to pay more attention to how they use certain strategies that have become popular in the current market. The updates, which generally are in effect now and become mandatory in early September, add additional precision in some cases and more

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Surging rate-and-terms push lock volumes upward

Interest rates, LOAN PRODUCTS, Originations, Refinance, Secondary markets / Ricky Vasquez

A jump in refinance activity lifted mortgage lock volumes last month, but purchase numbers may hold more promise for lenders. Total lock volume in June came in 2.11% higher month over month, according to the latest data from Mortgage Capital Trading. Rate-and-term refinance activity provided much of the momentum with a leap of 9.89%, as

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MISMO adds 40 definitions of fee charges to reference guide

LOAN PRODUCTS, Mortgage technology, Originations, Secondary markets, Underwriting / Ricky Vasquez

The Mortgage Industry Standards Maintenance Organization has added over 40 standardized fee names to a dictionary it created and is seeking public comment on the revisions. The 30-day public comment period on those updates runs through Aug. 7. “MISMO developed this guide to promote the uniform usage of fee names and descriptions for the purpose

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Fannie Mae expanding title waiver pilot, Pulte says

Fannie Mae, Originations, Secondary markets, Servicing, Title insurance / Ricky Vasquez

Fannie Mae, a large government-sponsored enterprise serving the U.S. mortgage market, is expanding its limited title waiver pilot, according to a social media post by its conservator and regulator. “Effective today, in order to further reduce closing costs for homeowners, and foster more competition, we will be adding a second vendor — Westcor — to

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Fannie, Freddie add VantageScore, keep tri-merge

Credit scores, Politics and policy, Secondary markets, Underwriting / Ricky Vasquez

The conservator and regulator of two influential government-related mortgage investors has announced a credit score other than FICO’s “classic” metric can be used when submitting loans to them. Effective immediately, Fannie Mae and Freddie Mac will allow lenders to use VantageScore 4.0, Bill Pulte said in an X post referencing one of two advanced credit

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Fannie updates AML rules, Freddie adds a buydown option

Fannie Mae, Freddie Mac, Originations, Secondary markets, Underwriting / Ricky Vasquez

The larger of two influential government-related mortgage buyers has made clear that even non depository mortgage companies not governed by the Bank Secrecy Act still have certain anti-money laundering responsibilities. “If a seller/servicer is not subject to the BSA’s AML provisions, it must establish a suspicious activity identification program,” Fannie Mae said in a bulletin,

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Why FHFA may bet on CSP to reform Fannie, Freddie

FICO challenges FHFA’s VantageScore decision

Chase’s lower 2Q margins a negative for IMB earnings

Non-QM drives RMBS H125 gains amid uncertain outlook

Fannie, Freddie change rules for contributions, incentives

Surging rate-and-terms push lock volumes upward

MISMO adds 40 definitions of fee charges to reference guide

Fannie Mae expanding title waiver pilot, Pulte says

Fannie, Freddie add VantageScore, keep tri-merge

Fannie updates AML rules, Freddie adds a buydown option

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