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February 25, 2014

PennyMac Signs New $500 Million Repo Deal With RBS

By Paul Muolo

Under the terms of the credit facility, PennyMac can sell RBS “newly originated mortgage loans that it purchases from correspondent lenders.”

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After the November elections, how long will it take for a new Congress and White House to pass GSE reform legislation?

I’m confident a bill will be passed the first year.


2 to 3 years. GSE reform is complicated.


Sadly it won’t happen in a Clinton or Trump first term.


Not in my lifetime.


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