Hedge fund giant Cerberus Capital Management has quietly purchased a nonbank mortgage company based in Georgia and plans to use the firm to grow it into a national player in residential finance, according to industry sources close to the deal. One official inside of Cerberus confirmed the purchase to Inside Mortgage Finance as well as some of the growth plans, but declined to identify the company. Cerberus, which makes investments worldwide, operates dozens of funds, many of which target specific sectors or projects. The sale was facilitated...

Japanese investors increased their holdings of agency MBS by $32 billion and even boosted their non-agency MBS investments by $1.4 billion.

Although the recent spike in rates spooked some players in the non-agency market, conduits like Redwood Trust and Credit Suisse are still in the hunt for new customers.

Gordon Albrecht, executive vice president for FCI Lender Services, said, “The less the banks lend, for whatever reason, the more goes to private-money firms.”

When rates shot up quickly, were some MBS investors caught behind the eight-ball?

A former federal prosecutor, Linick is credited with creating the agency’s Office of Inspector General from the ground up.

Spreads have widened significantly on non-agency jumbo MBS in recent weeks, cutting into issuers’ profits.

According to exclusive figures compiled by Inside Mortgage Trends, Citigroup had $748 million of disputed buybacks with the GSEs at March 31.

Authorizing the FHA to shift mortgage-servicing rights from one processor to another could have a ripple effect on Ginnie Mae servicing rights.

On Tuesday the Fed will hold an open meeting to discuss final rule-making tied to the Basel III accords, which affects the value of mortgage servicing rights.