Wedbush Securities: “While there are many advantages to the SPAC route for both investors and issuers, it has also been an area that has produced disappointing results for some investors in recent months.”

Though jumbo volume remained stable, the sector lost market share as the conventional refinance business continued to boom.

As of the end of October, Ginnie issuers had produced $615.55 billion of new single-family MBS, well over the highest total for a full year set in 2019 at $498.33 billion.

But looming delinquencies are definitely a concern...

“In many cases, Wells stopped accepting electronic mortgage payments after it placed homeowners into the unwanted forbearance, causing those who were current on their loans to become delinquent without their knowledge and through no fault of their own,” said Kellett & Bartholow.

Year-to-date production, $1.852 trillion as of Halloween, was up 131.5% from last year. It’s a foregone conclusion that Fannie and Freddie this month will top the current $1.912 trillion annual record for GSE MBS issuance set back in 2003.

For its part, Fannie has stayed away from new CRT issuance other than some reinsurance transactions...

Brickman took over the CEO role in July 2019. His final day will be Jan. 8.

Despite this "relief" measure, the GSE regulator has been sharply criticized by lenders because the fee is so steep: 500 basis points for first-time buyers and 700 bps for everyone else.

Quicken is an active and major player in the Ginnie Mae EBO game as well...