pmuolo@imfpubs.com, bivey@imfpubs.com

Tuesday morning, the Dow Jones Industrial Average reached yet another new high, 28,112, before drifting back a bit to 28,102 as IMFnews went to press. What’s amazing about the run-up in equities is that the yield on the benchmark 10-year Treasury keeps declining – the reading was 1.73% at press time…

What does it all mean? Shouldn’t rates be higher or is the DJIA headed for a market-cleansing correction? The financial tea leaves continue to throw off mixed signals. In other words, it’s all a crap shoot (as always)…

Meanwhile, the share price of the struggling Ocwen Financial is up slightly on the day (to $1.52) while some of the mortgage-investing REITs are a hair lower…

Last week, Odeon Capital analyst Dick Bove upgraded his rating on Fannie Mae/Freddie Mac common to “hold.” Previously, he had a “sell” rating on the two…

An affiliate of Pacific Investment Management Co. is preparing to issue a $341.3 million expanded-credit MBS that includes non-qualified mortgages that were previously in MBS issued by Lone Star Funds. Some 41% of the loans were in previously issued MBS that were subject to clean-up calls. Loans in the new security have seasoned for an average of 18.1 months.

MORTGAGE PEOPLE: Guaranty Home Mortgage Corp., Murfreesboro, TN, promoted Julia King to vice president of human resources. A 20-year veteran of the industry, King first joined GHMC in 2010.

Freedom Grows its Share of the GNMA MBS Market

Freedom Mortgage Corp. issued $9.36 billion of Ginnie Mae MBS in 2Q19, to claim an 8.3% market share (up from 6.5% in the first quarter) and the #2 spot among Ginnie MBS issuers. Learn more about Freedom and the other 24 top lenders with IMF’s Top 25 Lender Profiles. On one data-filled page per lender, you’ll have specifics on volume and share by product, servicing performance, channel breakdown, secondary market choices and more. Available by the set or individually, for a specific quarter or as a four-quarter subscription.