The issue of fast prepays on VA IRRRLs refuses to die. Recently, VA mailed a warning letter to as many as 500 lenders. Inside MBS & ABS obtained a copy of the correspondence.
MBS and MSR investor New Residential signaled that it might engage in a large stock buyback program, but so far there’s been no activity. It’s possible political considerations might be a factor.
Three names are being kicked around to head Ginnie Mae, the government’s $2 trillion MBS guarantor: Robert Couch, Clinton Jones and Joe Murin. But is something else afoot?
The White House plans to nominate someone to lead Ginnie Mae but given the current political turmoil in Washington, is this a pipe dream? Investors don’t seem worried about the agency, at least not yet.
The recap and release of Fannie Mae and Freddie Mac could be a bonanza for investment banking/advisory firms that assist the government. There might be four contracts overall.
Ginnie Mae, the government guarantor that backs $2 trillion in mortgage assets, still doesn’t have a permanent president even though the election took place three years ago. Will anything change?
One of these days, Fannie and Freddie will need to raise capital by selling stock. Rumor has it that institutional investors are already being courted, including Berkshire Hathaway.