A four-year veteran of the bank in California, this mortgage loan officer said he never felt any type of pressure to cross sell other Wells products either.
Five deals were issued during the quarter, led by a $2.65 billion MBS from Chase that combined mortgages eligible for sale to the government-sponsored enterprises and jumbo loans.
One mortgage insurance official who used Promontory Financial Group in the past described the firm’s work as “excellent,” but noted: “They don’t come cheap.”
Ginnie Mae set new monthly and quarterly production records during the third quarter of 2016, leading the agency MBS market to a huge 24.6 percent increase in new issuance, according to a new market analysis and ranking by Inside MBS & ABS. The three agencies produced $428.36 billion in new single-family MBS during the third quarter. Fannie Mae and Freddie Mac actually had bigger increases from the second quarter, but Ginnie was the star of the show. Ginnie recorded...[Includes two data tables]
Non-agency MBS investors looked to the practices of the government-sponsored enterprises when establishing the standards for a deal agent, according to Alessandro Pagani, a portfolio manager and head of securitized assets at Loomis Sayles. “The GSEs were very effective in enforcing their rights as owners of the collateral; they had access to information and real enforcement power to put back loans that needed to be put back and direct servicers,” he said at the recent ABS East conference produced by Information Management Network. The Deal Agent Committee released...
Annaly Capital Management, the nation’s largest real estate investment trust specializing in the residential MBS market, continues to take a close look at one of its more recent acquisitions, Pingora Loan Servicing, with no word yet on its plans for the unit. Annaly took control of Pingora this past summer when it officially closed on the purchase of Hatteras Financial, the parent of the servicer. Before the purchase, Annaly had...
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