SIFMA urged the Federal Housing Finance Agency ("FHFA") to strengthen a proposed rule on implementing the uniform mortgage-backed security ("UMBS"). In a comment letter, SIFMA stated it supports the "codification of alignment initiatives" to foster confidence in the "To-Be-Announced" ("TBA") market. SIFMA recommended that the FHFA: enhance the definition of "alignment" by (i) focusing on the subset of mortgage-backed securities that affect TBA pricing and (ii) preventing "material deviations in the key pool characteristics that drive future prepayment activity"; and adopt a final rule that
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The Financial Crimes Enforcement Network renewed geographic targeting orders that temporarily require U.S. title insurance companies to identify natural persons who use shell companies and pay cash for high-end residential real estate.
The Consumer Financial Protection Bureau adopted final amendments to certain mortgage servicing rules issued in 2013. The final amendments were published in the Federal Register.
SIFMA expressed "serious concerns" about the "operational and practicability issues" in FINRA's proposal to establish margin requirements for transactions in the "to-be-announced" market.