Issuers struggle under outdated purchase price limits
- Relaxed REMIC Requirements: IRS and Treasury Efforts to Address the Subprime Mortgage Crisis. // Venulex Legal Summaries;2008 Q4, Special section p1
The article focuses on the decision of the U.S. Internal Revenue Service (IRS) and Department of the Treasury to expand the safe harbor rules that apply to real estate mortgage investment conduits (REMIC). Such expanded rules allowed REMIC and REMIC owners to modify certain residential mortgage...
- Treasury Vows GSE Plan, But GOP Wants It Now. Borak, Donna // National Mortgage News;9/20/2010, Vol. 34 Issue 50, p21
The article reports on the claim by U.S. Treasury Department's Assistant Secretary for Financial Institutions, Michael Barr, that the federal government plans to revamp the housing finance system, but the Republican Party hinders it. Barr says that the government is taking some actions on the...
- New Treasury Plan on Track to Boost HFA Bonds. HUME, LYNN // National Mortgage News;10/5/2009, Vol. 34 Issue 3, p6
The article reports on the plan of the U.S. Treasury Department to provide 35 billion dollars to help state and local housing finance agencies (HFA) affected by the global financial crisis in 2008. It states that the program would repurchase tax-exempt HFA bonds worth 20 billion dollars through...
- Second Liens Among Remaining Sticking Points for New PL MBS. Sinnock, Bonnie // National Mortgage News;6/6/2011, Vol. 35 Issue 36, p5
The article reports on the issues concerning the regulation of private-label residential mortgage-backed securities (PL MBS) in the U.S.
- Ginnie Mae tax exemption untouched. Trinidad, Pablo J. // Caribbean Business;1995 Book of Lists, Vol. 23 Issue 44, p6
Reports on the shelving of a plan by Puerto Rican government to eliminate tax exemption for Ginnie Mae certificates. Views of Manuel Diaz Saldana, chairman of Puerto Rico Finance Board.
- Don't Dawdle on MBS Exit Plan. Prigal, Georgette // American Banker;6/3/2010, Vol. 175 Issue 85, p9
The authors suggests that U.S. banks need a managed exit strategy regarding distressed mortgage inventories since the Federal Reserve Board has ended its emergency rescue program of purchasing mortgage-backed securities from government-sponsored enterprises Fannie Mae and Freddie Mac.
- Issuers can pledge Ginnie Mae servicing. // Mortgage Banking;Apr96, Vol. 56 Issue 7, p6
Reports on the policy announced by government agencies allowing Government National Mortgage Association issuers to borrow more efficiently against their mortgage-backed securities (MBS) servicing rights. Terms of the proposal; Implications of the policy for the MBS market.
- Ginnie Mae exemption on the line. Trinidad, Pablo J. // Caribbean Business;8/3/1995, Vol. 23 Issue 31, p3
Reports on Puerto Rico Finance Board's expected adoption of a partial lifting of the Commonwealth tax exemption on Government National Mortgage Association (Ginnie Maes). Government's effort to liberalize the capital markets; Proposed exemption to mortgages of new home purchases below 100,000...
- FDIC Unveils Its Final Risk Retention Rule on MBS. Collins, Brian // National Mortgage News;10/4/2010, Vol. 35 Issue 2, p16
The article discusses the risk retention rule on bank-issued mortgage-backed security (MBS) by the Federal Deposit Insurance Corp. (FDIC) which requires FDIC-insured institution to retain five percent of credit risk when issuing asset-backed securities in the U.S.