National Mortgage News: FHFA Gives Market More Time to Weigh UMBS Plan

November 19, 2019
Original article by Bonnie Sinnock

The Federal Housing Finance Agency has given more time for investors to weigh in on a proposal for universal mortgage-backed securities (UMBS) that could reduce the percentage of specified pools, reports National Mortgage News.

Commenting on the introduction of UMBS earlier this year, Jake Remley, a senior portfolio manager at Income Research & Management, stated: “It hasn’t had much impact directly on the market.”

Remley’s view was the consensus among the experts interviewed, who generally felt that investor concerns about the introduction of UMBS have not fully materialized.

Read the full article here (paywalled).