With the Dow Jones Industrial Average headed higher, more REITs are selling additional shares of common, striking while the iron is hot. Meanwhile, Invitation Homes is pulling out of Memphis.
The Fannie/Freddie JV in charge of the uniform MBS has a new CEO with a deep background in mortgage finance: Anthony Renzi. In early 2018, he was hired to run the day-to-day operations of Cenlar, the big kahuna of subservicing.
Rate-term refinances drove the modest increase in agency MBS issuance in November, especially at Fannie and Freddie. Ginnie production was down. (Includes two data charts.)
FSOC continues to focus on the risk posed by nonbanks, which are key players in the MBS market. But is the regulator worrying too much? Opinions differ.
The Fed has significantly stepped up purchases of agency MBS in recent months. However, the central bank's balance sheet shows no sign of an increase in MBS holdings, prompting some questions. Meanwhile, shoring up the repo market might be a factor.
Kevin Keyes, CEO of Annaly Capital Management since September 2015, abruptly parted ways with his employer without much in the way of explanation. The REIT’s shares continue to trade in a tight price range.
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