Securitization of mortgages for investment properties at the government-sponsored enterprises declined while conforming jumbo business increased. (Includes data table.)
A former Morgan Stanley employee has claimed the bank systemically pressures its staff to approve mortgages for wealthy clients, even when they don’t qualify.
Redwood Trust posted another quarter of losses in the second quarter tied to its efforts to wind down legacy assets, including multifamily bridge loans investments.
Pennymac Mortgage Investment Trust has seen success in its private-label securitization program causing it to stop acquiring agency-eligible, conventional-conforming loans through correspondent production.