Deer Park Road Management Company was fined for undervaluing non-agency MBS in a hedge fund. The action is aimed at discouraging artificially smooth performance reporting.
Pretium Partners, the creation of former Goldman Sachs executive Donald Mullen, has agreed to buy non-QM MBS issuer Deephaven Mortgage for an undisclosed sum. Market watchers believe more acquisitions may lie ahead for Pretium.
FHFA Director Mark Calabria continues to push for the mortgage market to have multiple guarantors to compete against Fannie Mae and Freddie Mac. But Moody's believes there are huge risks in such an endeavor.
Agency MBS trading hit a yearly low in May. What lies ahead will be determined by the Federal Reserve. Will the central bank ease credit? And if so, what will happen to MBS prepayments?
In the MBS Grapevine this week: The lowest rates ever (maybe) and concerns about future GSE earnings from regulator Mark Calabria. Also, Ginnie Mae seeks committed capital.
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