Recently, Sachem came to market with $30 million of short-term notes priced at 6.88%. In the third quarter the publicly traded REIT posted a net profit of $2.1 million.
“There will be a significant impact and industry should see a decreased turn time in getting the MLOs approved,” said CSBS Senior Vice President Tim Doyle.
Redwood Trust has closed on a new securitization of single-family rental loans, the first such MBS since its acquisition of SFR lender CoreVest this fall.
Charlie Clark, president of the American Association of Residential Mortgage Regulators, stressed the need to establish prudential standards for nonbank lenders and servicers.
“The appetite in the secondary market for non-QMs is insane,” said Shea Pallante, an executive vice president at the Long Island-based Sprout Mortgage...
It’s no secret that home lenders are enjoying boom times. According to figures published by Inside Mortgage Finance last month, mortgage bankers funded a mouth-watering $700 billion in first-liens in the quarter, the strongest showing of the year.
Along with the increase to the baseline limit, caps on Fannie Mae, Freddie Mac and government-insured loans in high-cost areas would also rise, to as much as $760,000…
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