Read the latest articles and press releases about securitization and structured finance.

Industry News

Mortgage Rate Locks Show Consumers Moving to Residential ARMS and Jumbos

According to a report from data analytics firm Black Knight, rate lock count for residential mortgages fell in February to a level 42% below this time last year and 35% below pre-pandemic 2020 as borrowers move towards “rate-favorable offerings.” Locks on ARMs accounted for 10.3% of all locks, while locks on nonconforming loans accounted 12.2%, with both percentages representing a rising share of total locks.

Industry News


The FHFA announced a delay in the implementation of a new up-front fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income ratios. Citing concerns that the combined effect of this fee and other increases in loan level pricing adjustment (LLPA) fees could disrupt the market, FHFA Director Sandra Thompson stated that implementation will now be delayed by three months to August 1, 2023, allowing lenders and market participants additional time to plan for this fee.

Industry News

FDIC Chairman Martin Gruenberg Notes Increased Credit Risk in Commercial Office Space Lending

On March 6, FDIC Chairman Martin Gruenberg spoke at the Institute of International Bankers where he discussed the risks facing banks brought on by macroeconomic uncertainty. In discussing the trends that will likely affect banks’ lending businesses, he specifically addressed the increased credit risk associated with commercial real-estate (CRE) lending.

Industry News

C-PACE Securitization Poised for Growth in 2023

Commercial Property Assessed Clean Energy (C-PACE) legislation, a financing program intended to put carbon reduction projects within reach of developers, has been enacted in 38 states, setting the stage for increases in originations and securitization for 2023. In addition to financing for retrofits and new construction, many states’ rules permit the refinancing of eligible environmentally-friendly property improvements, replacing more expensive loans with new C-PACE originations.

Industry News

Ginnie Mae Responds to Liquidity Risks in Reverse Mortgage Securitizations

Ginnie Mae has announced All-Participants Memorandum (APM) to reduce the minimum pool size for Home Equity Conversion MBS, commonly known as reverse mortgages.

Industry News

FHFA Publishes RFI on Social Bonds from GSE’s

The Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on social bond policies for Fannie Mae and Freddie Mac (the GSEs).

Industry News

Senate Banking Committee Writes to Federal Housing Finance Agency

Senator Sherrod Brown (D-OH), Chair of the US Senate Committee on Banking, Housing and Urban Affairs, along with Jack Reed (D-RI), Ron Wyden (D-OR) and Elizabeth Warren (D-MA) sent a letter to the Federal Housing Finance Agency (FHFA) requesting a review of Fannie Mae and Freddie Mac’s nonperforming loan and reperforming loan sales programs. The letter asserts that of the more than 110,000 nonperforming loans sold, 60% resulted in the displacement of the homeowner.

Press Releases

SFA Applauds FHFA’s Reduction of UMBS Fee

The Structured Finance Association (SFA) applauded the decision today by the Federal Housing Finance Agency to lower the previously announced UMBS Fee from 50 basis points to 9.375 basis points, a reduction of more than 80 percent. The FHFA said the reduced fee will go into effect April 1.

SFA News

SFA Submits Letter to GSEs in Response to Their Proposed Single-Family Social Index

On January 5, 2023, on behalf of our investor members SFA submitted a letter to Fannie Mae and Freddie Mac (the GSEs) in response to their proposed single-family Social Index.

Industry News

FHFA Releases 2023 Scorecard for Fannie Mae, Freddie Mac

On January 4, the Federal Housing Finance Agency (FHFA) released its 2023 Scorecard for Fannie Mae and Freddie Mac.

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