The vacancy rate across single-borrower, single-family rental securitizations rated by Morningstar Credit Ratings fell to its lowest level in a year, as high retention rates for full-term leases kept performance in the sector within expectations, according to a company report. The vacancy rate dropped to 4.1 percent in March, driven by an improving average retention rate, which rose for the third consecutive month, the report said. The average retention rate for all single-borrower, single-family rental securitizations now stands at 79.5 percent, it noted. In addition, the overall turnover rate held...
After the end of the first quarter, PennyMac acquired a bulk portfolio of Ginnie Mae mortgage servicing rights with an unpaid principal balance of $4.30 billion.
The FHFA was created in part because its predecessor, the Office of Federal Housing Enterprise Oversight, was widely seen as lacking enough independence to adequately oversee the GSEs...
The updraft in mortgage interest rates following the November election has bolstered the secondary market in mortgage servicing rights, and business could quicken even more if independent mortgage bankers feel profit pressure from declining margins, according to industry experts. There are more bidders in the market than last year, said David Bennett, a managing director at MountainView Capital Holdings, during a panel session at this week’s secondary market conference ...
Democrats unsuccessfully pushed amendments that would try to keep President Trump, anyone in his administration or any of his businesses from benefitting from any provision in H.R. 10.
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