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mortgage-backed securities (MBS)

Richmond Fed Chief Upset on MBS Policy Shift


Jeffrey M. Lacker, president of the Federal Reserve Bank of Richmond, has openly questioned a key aspect Wednesday’s decision by central bank’s Federal Open Market Committee (FOMC) regarding the long-anticipated policy shift away from tapering.Click to continue

Tales From the Closing Table

Board Meeting/Credit: Brand X Pictures

The mortgage closing transaction is the single largest financial transaction in the lives of most consumers, and it is also the riskiest stage of the mortgage process for lenders. While the vast majority of lawyers and notaries and title agents are experienced, ethical and diligent professionals, for a few the role of closing agent is too tempting a lure for selfish criminal intent. This monthly column addresses the good, the bad and the ugly …Click to continue

FHFA Reaches $3.15 Billion MBS Settlement With Goldman Sachs


The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, has announced it has reached a settlement with Goldman Sachs, related companies and certain named individuals. The settlement addresses claims alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities (PLS) purchased by Fannie Mae and Freddie Mac between 2005 and 2007.Click to continue

Cantor Fitzgerald Announces MBS Team Expansion

Handshake Pic Credit: Stockbyte

Cantor Fitzgerald & Co. announced the expansion of its mortgage-backed securities (MBS) sales and trading team with the appointments of Cass Tokarski as senior managing director and head of mortgages and asset-backed securities, and James Murray as managing director, who are both joining from RBS. Tokarski will be responsible for broadening and expanding Cantor's already significant presence in the business. Murray will be focusing on agency ARM (Adjustable-Rate Mortgage) trading.Click to continue

Ginnie Mae's MBS Portfolio Surpasses $1.5 Trillion Mark


Ginnie Mae has announced that its mortgage-backed securities (MBS) portfolio reached $1.5 trillion in unpaid principal balance (UPB). Ginnie Mae President Ted Tozer noted the unprecedented expansion of recent years. It took Ginnie Mae 42 years, from its founding in 1968, until July of 2010, to reach the $1 trillion mark.Click to continue

Ginnie Mae Guarantees $23 Billion-Plus in MBS in April


Ginnie Mae announced that it guaranteed $23.32 billion in mortgage-backed securities (MBS) in April 2014. More than $21.66 billion in Ginnie Mae II single-family pools were issued in April, while Ginnie Mae I single-family pools totaled nearly $449 million. In addition, Ginnie Mae issued nearly $1.66 billion in multifamily MBS in April.Click to continue

FHFA Announces $280 Million MBS Settlement With Barclays

Hands Shaking

The Federal Housing Finance Agency (FHFA) has announced a settlement with Barclays Bank PLC, related companies and specifically named individuals for $280 million. The settlement resolves claims in the lawsuit FHFA v. Barclays Bank PLC, et al., as well as claims against Barclays in FHFA v.Click to continue

Ginnie Mae Guarantees $21 Billion-Plus in MBS in February


Ginnie Mae announced that it guaranteed $21.25 billion in mortgage-backed securities (MBS) in February 2014. “Ginnie Mae continues to provide stability to the U.S. housing finance system, during both times of crisis and recovery,” said Ginnie Mae President Ted Tozer. “Our Issuers recognize that our product provides flexibility to respond to market change and consistency rooted in transparency, accountability and standardization.”Click to continue