Fitch Ratings, New York, said servicers continue to work with struggling homeowners to avoid loan default, as early delinquencies remain flat and late stage delinquencies show positive movement.
Tag: Residential Mortgage-Backed Securities
Fitch: RMBS Servicers Focus on Post-Pandemic Performance
Fitch Ratings, New York, said mortgage servicers are anticipating increased regulatory scrutiny in 2023 as borrowers continue to exit forbearance assistance plans and seek help with their mortgage payments.
Fitch: Slowing Trend in CMBS Defeasance
Commercial mortgage-backed securities defeasance volume soared during late 2021 and into January, but that trend could be ending, said Fitch Ratings, New York.
Fitch Ratings: Solid U.S. RMBS Market Faces Uncertainty
Fitch Rating, New York, said the new-issue private-label U.S. residential mortgage-backed securities market is humming along at a solid pace, though it says some broader developments in the coming year could influence the pace of new deals.
Fitch: Remote Working to Affect Housing Demand—But Not U.S. RMBS Ratings
Fitch Ratings, New York, said while remote working in the U.S. accelerated as a result of the coronavirus pandemic, and is reducing the importance of proximity to offices and causing migration from urban to suburban and exurban areas, it does not expect any material effect on the credit quality of its rated U.S. residential mortgage-backed securities pools.
MBA, Trade Groups Ask SEC to Amend Reg AB II Disclosure Requirements
The Mortgage Bankers Association and other industry trade groups sent a letter last week to the Securities and Exchange Commission, asking it to consider amendments to Reg AB II disclosure requirements that will help to restore the registered segment of the private-label securities market.
Fitch: Coronavirus to Drive More ‘Outside-the-Box’ Appraisals in RMBS
Fitch Ratings, New York, said traditional “full” pre-close home appraisals, viewed to be best practice, are becoming less common in the mortgage origination process as homes are more difficult to access during the coronavirus outbreak.
Fitch: RMBS Servicers See Opportunity in 2020 Amidst ‘Clear Challenges’
Change is coming for U.S residential mortgage-backed securities servicers in 2020 and beyond, said Fitch Ratings, New York, with perhaps the most notable one being how they are preparing for the end of LIBOR.
SEC to Examine Disclosure Requirements for RMBS
Securities and Exchange Commission Jay Clayton last week issued a statement instructing SEC staff to review the Commission’s residential mortgage-backed securities asset-level disclosure requirements with an eye toward facilitating more SEC-registered offerings.
MBA Letter Lauds FDIC Proposed ‘Safe Harbor’ Rulemaking
The Mortgage Bankers Association, in an Oct. 21 letter to the Federal Deposit Insurance Corp., expressed strong support for a proposed rulemaking that would remove barriers for issuance of private residential mortgage-backed securities without jeopardizing safety and soundness of RMBS sponsors or investors.