Michael Fratantoni, chief economist at the Mortgage Bankers Association, said the GSEs’ back-end risk-sharing deals do not represent the type of reform most industry participants would like to see.
One of Fannie’s and Freddie’s reputed “sins” was donating large sums of money to politicians who, in turn, ran interference for them on Capitol Hill...
At mid-year 2015, Redwood’s subsidiary had $882 million of outstanding FHLB advances with a weighted average interest rate of 0.23 percent and a weighted average maturity of six years.
A lawyer by trade, Watt noted: “Unfortunately, legal constraints prevent me from saying much about this because we are in the period between the end of the comment period and the time we issue the final rule.”
With a strong fourth quarter, jumbo MBS issuance in 2015 could nudge past the post-crisis high set back in 2013, when $13.12 billion of these deals came to market.
The non-agency MBS market sputtered to its weakest new issuance volume in a year during the third quarter of 2015, according to a new market analysis and ranking by Inside MBS & ABS. A total of $9.43 billion of non-agency MBS were issued during the third quarter, down 39.7 percent from the second quarter. Thanks to a strong start in the first half of 2015 – and weak new issuance during the same time last year – year-to-date production was up 47.5 percent from the first nine months of 2014. The two mainstays that have been propping up non-agency MBS issuance have been...[Includes two data tables]