“There is a proven blueprint to succeed, and we hope to successfully resolve this matter before reaching the Supreme Court of the United States,” the company told investors.
Choice mortgages carry rates that are roughly 100 basis points to 125 basis points higher than rates on Redwood’s super-prime program, known as Select.
Mortgage lenders last month pumped a hefty $112.36 billion of single-family home loans into the MBS platforms of Fannie Mae, Freddie Mac and Ginnie Mae, according to a new ranking and analysis by Inside MBS & ABS. July’s agency MBS production was up 2.9 percent from the previous month, though it still hasn’t caught up to the monthly volume issued from May of last year through January 2017. Year-to-date production was down 0.3 percent from the first seven months of 2016. The purchase-mortgage business continued...[Includes two data tables]