Ginnie Mae late Wednesday barred loanDepot from delivering VA single-family loans to Ginnie Mae I and multi-issuer pools apparently due to unusually high prepayment rates in its VA loan portfolio.
Surprising no one, the Federal Reserve’s Federal Open Market Committee Wednesday decided not to raise the target rate on federal funds above the current 2.25 percent. The vote, as usual, was unanimous.
Multifamily lender Walker & Dunlop plans to expand its small-loan business, confident about investor demand and performance of such assets in the secondary market.
Mortgage-investing real estate investment trust New Residential Investment Corp., New York, informed the ailing Ditech Financial that it plans to terminate its roughly $83.7 billion subservicing contract.
Depending on what type of Fannie Mae/Freddie Mac reform occurs in the next few years, there’s a growing concern in the market that foreign investors — and others — may shy away from their MBS unless there’s an explicit guarantee on the securities.
Nonbank mortgage operations continued their assault on the agency MBS market in 2018, increasing their penetration in both new issuance and servicing. [Includes two data charts.]
Activity in the non-agency mortgage market is likely to get a boost from any reforms of the government-sponsored enterprises undertaken by the Trump administration.
An affiliate of Annaly Capital Management this week issued a non-agency mortgage-backed security stocked with investment-property mortgages eligible for sale to the government-sponsored enterprises.
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