The Department of Housing and Urban Development published a final rule today that replaces the London Interbank Offered Rate (LIBOR) as an approved index for new and existing adjustable-rate forward … more HUD Publishes LIBOR Transition Final Rule
Secondary Markets
GNMA Reduces Minimum Pool Size For HMBS
Ginnie Mae published APM 23-04, which reduces the minimum HECM Mortgage-Backed Security (HMBS) pool size, from $1 million to $250,000, to minimize the amount of time Issuers must carry … more GNMA Reduces Minimum Pool Size For HMBS
HMBS January 2023 Part II: Issuer 42 to the Rescue (Part II)
HMBS payoffs fell again in January, as the refinancing retreat continues. January payoffs totaled about $756 million, the lowest payoff amount in nearly 6 years and the lowest … more HMBS January 2023 Part II: Issuer 42 to the Rescue (Part II)
HMBS January 2023: New Year’s Dissolution
HECM Mortgage-Backed Securities (“HMBS”) issuance collapsed in January to $523 million, falling for the ninth straight month. This monthly total is the lowest in nearly 3 years and … more HMBS January 2023: New Year’s Dissolution
HMBS December 2022 Part II: Issuer 42 to the Rescue
HMBS payoffs fell again in December, as the refinancing retreat continued. December payoffs totaled about $815 million, the lowest payoff amount in 23 months and the lowest payoff … more HMBS December 2022 Part II: Issuer 42 to the Rescue
HUD Publishes Proposed Rule on LIBOR Transition
The U.S. Department of Housing and Urban Development published a proposed rule this week that would replace the London Interbank Offered Rate (LIBOR) with the Secured Overnight Financing Rate … more HUD Publishes Proposed Rule on LIBOR Transition
HMBS May 2022: May Flowers Wither; June Gloom Looms
HECM Mortgage-Backed Securities (“HMBS”) issuance fell in May to $1.45 billion, down from April’s record $1.6 billion, as the refinancing wave finally began to ebb. However, production remains … more HMBS May 2022: May Flowers Wither; June Gloom Looms
HMBS April 2022 Part II: April May but May June?
HMBS payoffs continued in April, as the refinancing wave diminished slightly but refused to ebb. Instead, April payoffs totaled $1.3 billion, just short of March 2022’s record $1.5 … more HMBS April 2022 Part II: April May but May June?
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