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Private-label loan-vetting comes up short

Housing Wire

The process of vetting loan pools assembled for private-label securitization deals is, to a degree, like sausage-making. A recent report by the Kroll Bond Rating Agency , however, raises a yellow flag about current loan-review practices in the private-label market that requires examination of the sausage-making.

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Cenlar FSB names Thomas Donatacci as investor relations officer

Housing Wire

National mortgage loan subservicer Cenlar FSB announced on Thursday that it has named the Thomas Donatacci as its investor relations officer. Donatacci has extensive experience in servicing transactions and subservicing, due diligence, and M&A. chief of staff at Impac Holdings Inc. territories.

Investor 369
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Fannie Mae unveils $997M reperforming loan offering 

Housing Wire

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. A reperforming loan is a mortgage that has been or is currently delinquent but has been reperforming for a period of time. million in unpaid principal balance; pool 2 is at $342.5

Loans 382
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UBS agrees to pay $1.4B to settle RMBS fraud case

Housing Wire

According to the DOJ, the United States filed a complaint alleging that UBS “defrauded investors” by making false and misleading statements to buyers of 40 RMBS issued in 2006 and 2007 relating to the characteristics of the loans. “The settlement has been fully provisioned in prior periods,” UBS said in a statement.

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The crypto-mortgage is the new kid on the block

Housing Wire

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. So, it’s not just our loans supplying into this ecosystem … it could be any originator.”.

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New MISMO standards are critical to a growing PLS market

Housing Wire

For a variety of reasons, including recent policy changes at Fannie Mae and Freddie Mac that cap second home and investor property loan volumes, and growth in jumbo loan volume driven by increasing home prices, there has been renewed interest in the PLS market and its future growth.

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GSE repurchase risk is rippling through the MSR market

Housing Wire

A fly in the ointment, however, particularly for some independent mortgage banks (IMBs), is the elevated risk of agency loan-repurchase demands — triggered by loans that violate Fannie Mae ’s or Freddie Mac ’s rep and warranty policies due to some defect discovered during the agencies’ post-origination quality-review processes.