Steady 2018 RMBS Market Still Holds Risks

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2018 MBS Moody’s Mortgage-Backed Securities Outlook RMBS 2017-12-08 Dean Terrell Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Steady 2018 RMBS Market Still Holds Risks Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: 2018 MBS Moody’s Mortgage-Backed Securities Outlook RMBS December 8, 2017 2,862 Views Share Save Related Articles About Author: Dean Terrell Moody’s Investors Service released its residential mortgage-backed securities (RMBS) 2018 Outlook recently, showing projections for the RMBS market in year to come. The report summarizes how lenders will issue several different types of loans and deals, particularly regarding issuances of new deal types. The report also covers the collateral quality of prime jumbo deals, re-performing/non-performing loans (RPL and NPL), non-prime RMBS, and the credit quality of single-family rental (SFR) transactions.As performance remains steady amid strong housing and macroeconomic fundamentals, 2018 issuance will include new deals from issuers backed by a wider array of assets. RPLs and NPLs will diversify more as transactions include more types of loans and issuance volume remains high. While the RMBS market will remain stable, it’s worth mentioning that new performance risks will emerge, mainly regarding RPL/NPL transactions. This is due to the variation of servicing practices and collateral composition these loans carry. According to the Moody’s analysis, deals “backed by large percentages of modified loans with looming interest rate step-ups, weak payment histories at issuance, and/or serviced with weaker loss mitigation practices will be at higher risk of an increase in delinquencies.” SFR transaction credit quality will continue to improve on issuer’s operational efficiencies, but issuance will remain low due to consolidation and emergence of alternative forms of financing. SFR’s strong credit performance will continue thanks to stable vacancy rates and strong rental demand driving rents higher across the country. Prime jumbo deals’ collateral quality, as well as GSE credit risk transfers, will weaken somewhat as lenders intend to ease credit standards.Regarding servicing, errors should remain low as controls are put in place to address regulatory changes. The changes put forth by the CFPB should drive servicing quality up, however costs for building compliance departments will remain high. Modification levels will continuing decreasing and small- to mid-sized servicers will continue to play a major role in the RMBS marketplace.You can read more of Moody’s 2018 Outlooks by clicking here. Servicers Navigate the Post-Pandemic World 2 days ago Previous: Royal Bank of Scotland Settlement with DOJ Might Not Happen Next: Manhattan, San Francisco Least Affordable U.S. Marketscenter_img  Print This Post Demand Propels Home Prices Upward 2 days ago Steady 2018 RMBS Market Still Holds Risks Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Journal, Market Studies, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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Local Hoboken officials express support for ranked choice voting bill

first_imgHOBOKEN – In a press release, Hoboken Councilwoman Emily Jabbour called on state legislative leaders to advance bill A-1801, which permits the use of instant runoff voting in local elections.“Instant runoff voting is something we would like to explore in Hoboken in order to ensure we do not return to the days of expensive, low-voter turnout runoff elections that are historically susceptible to political gamesmanship and potential election mischief,” Jabbour said. “With the passage of A-1801, we would be allowed to offer ranked choice voting to Hoboken residents, which asks voters on Election Day to list their first, second, and even third choice of candidates, incentivizing positive campaigning and encouraging candidates to appeal to everyone.”Instant runoff voting is a system that allows each resident to vote for a preferred candidate, as well as alternative choices in order of preference. In the event that no candidate receives a majority of the votes in an election, the people who voted for the last place candidate will have their second choice options added to the total. The process would continue until one candidate is a majority winner.Assemblywoman Annette Chaparro of Hoboken, a sponsor of the legislation, said she supported the bill and wanted to give municipalities the option.“Offering ranked choice voting to our municipalities would change the negative dialogue in our campaigns, save money for candidates and the government, and avoid winter runoff elections, which often result in a lower participation rate,” Chaparro said in the press release. “This bill would not force any municipalities into using ranked choice voting, but rather would permit local governments to implement this option should they see fit in their community. I was happy to discuss this important issue with Councilwoman Jabbour, and I hope this bill will move forward expeditiously.”The bill is currently awaiting a hearing in the Assembly State and Local Government Committee.“I encourage Hoboken residents to contact their state representative, Assemblywoman Chaparro, and members of the committee, to inform them that this bill is important to you, it has your support, and is crucial to avoiding the days of the past when machine candidates fight to just get to a runoff and then take advantage of low voter turnout in subsequent runoff elections,” Jabbour said in the release.The city council has already approved of a referendum on November’s ballot which asks the public whether or not the city should reinstate runoff elections.The council also passed a resolution urging state legislators to consider allowing instant runoff elections in New Jersey. ×last_img read more

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