The average credit score for FHA loans in Ginnie MBS issued during the first quarter was 671.1, the lowest level since the agency began reporting loan-level data…
Also, there’s a growing fear that in the absence of Congressional action, a free-market leaning Treasury Department, in tandem with a Trump-appointed FHFA director, might alter the way GSEs operate...
Originations of non-agency jumbo mortgages declined in the first quarter of 2018 at a number of banks that provide early disclosures about their business. Officials cited seasonal factors for the lower volume and suggested that production will bounce back in the second quarter. First Republic Bank, the largest of the four banks in terms of jumbo production, had $2.33 billion in total originations in the first quarter. Jumbos tend to account for more than 90.0 percent of its total production ...
Redwood Trust entered the single-family rental market this week by purchasing a stake in 5 Arches, a lender and asset manager. The move is part of a diversification strategy for Redwood, with officials at the real estate investment trust expecting growth among renters. Redwood acquired a 20.0 percent interest in 5 Arches with a one-year option to purchase the remaining 80 percent of the company. Redwood paid $10.0 million in cash for the minority stake and can buy the rest of the ...