Housing regulator publishes UMBS alignment regulations
The Federal Housing Finance Agency (FHFA) last week published its final set of rules on the alignment of prepayment speeds for the forthcoming uniform mortgage backed security (UMBS).
Critics of the UMBS have highlighted how the merging of two separate to be announced (TBA) markets into one would prevent investors from differentiating the GSEs through price for specific policies or programmes that could impact prepayment speeds.However, the new rules published last Thursday specify ways ...
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