Former Freddie CEO Don Layton took issue with the plan’s basic premise that if the footprint of the GSEs shrinks, private capital will move in to take up the slack...
Mortgages eligible for sale to the GSEs accounted for about 25% of the dollar volume of loans in prime non-agency MBS from Redwood earlier this year while the new deal includes a 10% share of GSE-eligible loans.
First Republic, JPMorgan Chase and CitiMortgage led the IO pack during the second quarter. Interest-only originations tend to be concentrated in the jumbo space...
Ditech, in the coming days, expects to close on its previously announced asset sale to New Residential Investment Corp. The REIT is scheduled to purchase most of the nonbank’s servicing portfolio and what’s left of its origination platform.