MBA said the average pre-tax production profit was 33 basis points in the first quarter of 2016, compared to an average net production profit of 22 bps in 4Q15.
Increased securitization of purchase-money mortgages provided the lift for a pickup in the production of new single-family MBS by Fannie Mae, Freddie Mac and Ginnie Mae in May, according to a new market analysis and ranking by Inside MBS & ABS. The three agencies produced a total of $114.71 billion of new single-family MBS last month, a 5.3 percent increase from April’s volume. May was the third straight month of increased production and it just barely exceeded the $113.56 billion issued during the same period a year ago. For the first five months of 2016, production was down 2.8 percent from last year. Purchase mortgages accounted...[Includes two data tables]
FMC bought these current loans out of Ginnie pools at lower prices applicable to delinquent loans, the SEC said. But in reality, the mortgages were really current…
A new jumbo MBS from Redwood Trust will mark the second non-agency MBS to include mortgages subject to the TRID mortgage disclosure rule. The real estate investment trust plans to issue a $344.89 million deal next week, according to a presale report from Kroll Bond Rating Agency. The rating service said 366 mortgages, accounting for 74.8 percent of the loan pool, are subject to the combined Truth in Lending Act/Real Estate Settlement Procedures Act rule. Redwood will issue...
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