TIAA-CREF said yesterday that its savings bank subsidiary can now expand its banking services, including orinating mortgages and investing in MBS.
The FHA is opening the door for conventional borrowers with negative equity to refinance into government insured loans.
The Federal Reserve will be reinvesting principal payments from agency MBS and agency debt into longer-term Treasury securities.
S&P has stated that after nine months and five new transactions, the CMBS market seems to be slowly coming back to life.
Vornado has issued a $660 million CMBS deal.
|
|
The rating agency liability issue alone is likely to mire the market for some time.
The catalyst appears to have been a report issued on Tuesday last week from Morgan Stanley economists.
MBS analysts across the Street are still expecting limited supply in the near term.
Fannie Mae President Michael Williams said the GSE is preparing for an expected overhaul of the U.S. housing system.
The top three ratings agencies are seeking to regain credibility by tailoring their research efforts to better meet investor needs.