Redwood Trust is preparing to issue an expanded-prime mortgage-backed security that will be somewhat smaller than others issued by the real estate investment trust. Sequoia Mortgage Trust 2018-CH3 will be a $417.0 million issuance, according to a presale report by Kroll Bond Rating Agency. In May, Redwood issued a $520.5 million expanded-prime deal and the firm issued a $444.3 million MBS in February. Mortgages in the deals are largely similar and the pending issuance has ...
The spring homebuying season fueled a relatively modest increase in production of Ginnie Mae single-family mortgage-backed securities during the second quarter of 2018, according to a new Inside FHA/VA Lending ranking and analysis. Lenders issued $98.66 billion of Ginnie MBS backed by forward mortgages during the April-May cycle. That was up 6.6 percent from the first three months of the year, but 2018 continued to lag behind the pace set in 2017 by 10.7 percent. Given current trends, annual Ginnie MBS issuance in 2018 could fall short of the $400 billion mark for the first time since 2014. The flow of FHA and VA purchase mortgages was up a solid 23.7 percent from the first to the second quarter, bringing the total for the first half of the year to $121.01 billion. However, that was down 4.7 percent from the same period in 2017. Ginnie securitized $75.02 billion of FHA purchase loans in the ... [Charts]
Collectively, Fannie Mae and Freddie Mac recorded a modest increase in new single-family business from the first quarter of 2018 to the second, but the bird’s-eye view misses some key details. [Includes three data charts.]
Under the Economic Growth, Regulatory Relief and Consumer Protection Act, banks with less than $10 billion in assets can receive QM treatment for certain loans...
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