So, what’s the biggest impediment to mortgage volumes taking off this spring? According to a new poll from Inside Mortgage Finance, it’s a lack of housing inventory.
The new survey of more than 2,000 real estate agents found that respondents recommend specific mortgage providers for 59 percent of their homebuyer transactions.
S&P rated seven of the 11 non-agency MBS issued in the first three months of 2014, or 78 percent based on dollar volume, according to Inside MBS & ABS.
“FHFA hasn’t dropped the ball on the issue,” said one MI consultant who has met with the agency over the topic. “They now know that the [GSE reform bill] is dead and they want to make sure they get it right.”
Blackstone Group, the largest owner of single-family rental properties, is reportedly planning to bring $1 billion of securities backed by rental cash flows to market – the latest in a string of large rental securitization transactions seen in the last couple of months. There are few details about the deal because the transaction is said to be private, Bloomberg reported. Blackstone, however, is said to be working with Deutsche Bank to market the home-rental bonds, which may be offered to investors next month. Blackstone’s latest securitization follows...
Sources contend that three other top executives also have left Nationstar Mortgage. At press time, Nationstar’s media department had not returned telephone calls and emails on the matter.
All seven active mortgage insurance companies reported a total of $31.34 billion of new primary insurance written during the first quarter, according to calculations from Inside Mortgage Finance.