Craig Phillips plans to stay at the Treasury Department until the agency's housing finance reform plan is drafted. President Trump noted that "many geniuses" will contribute to the plan.
In the first quarter of 2019, the average credit score for retail production included in agency MBS was 725.97, 7.3 points higher than the average for correspondent production and 7.5 points above the figure for brokers.
PennyMac founder and Executive Chairman Stan Kurland: "While the correspondent market remains competitive, margins appear to be stabilizing as they were essentially unchanged from the prior quarter at 29 basis points..."
To date, Fannie has upstreamed $179.0 billion in quarterly dividends to Uncle Sam versus assistance draws of $118.9 billion, giving it an account surplus of $59.2 billion...
The non-agency market, which is dwarfed in size by agencies, saw $3.0 billion in securities change hands on a daily basis in March, the strongest reading since June of 2018.
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