Leading the improvement pack: the Ginnie Mae category, where the reading dropped a whopping 45 basis points to 6.33% of outstandings for the week ending April 4.
“Issue debt while you can.” That seems to be the mantra of nonbank mortgage lenders and even real estate mortgage investment trusts. The latest sellers: UWM and PennyMac.
What a difference a year can make. Last spring, the REIT was getting margin-called and selling MBS. Today, it’s buying huge mortgage banking franchises.
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