With the non-QM market heating up, opportunities abound for whole loan trading desks, with firms such as Incenter, MIAC, RAMS Mortgage Capital and Situs AMC playing a key role.
PIMCO is set to issue a non-agency MBS with loans sourced from non-QM deals issued by Lone Star Funds. The older MBS were subject to clean-up calls, allowing PIMCO to re-package the loans.
Will President Trump bestow a tax cut on investors in stocks and bonds? Christmas isn't too far away. Meanwhile, corporate landlord Invitation Homes (80,000 homes strong) posted strong results for the second quarter.
HUD is cracking down on the securitization of high LTV cash-out refis. Coming changes will affect FHA and VA lenders. Meanwhile, the FHFA may be ready to act as well. A big deal or much ado about nothing?
The GSEs took hits to their net earnings as a result of hedging losses for the third straight quarter. The launch of the uniform MBS pushed Fannie and Freddie into an indemnification agreement.
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