Short Takes: Why the GSE Net Worth Sweep Won’t be Reversed / Recap and Release? / A Much-Watched Profit Reading / Starwood and Impac, a Symbiotic Relationship / Bank Failures, Anyone? / Reverse Lender Hires Sales Chief March 19, 2019 Paul Muolo and Brandon Ivey Each quarter, GSE profits reduce the federal budget deficit. If that cash is forfeited...Read More
GNMA MBS Production Down Sharply in February March 18, 2019 John Bancroft Much of the reduced refi business resulted from a 14.8% drop in cash-out transactions...Read More
Non-QM Lender Angel Oak Quickly Returns to the MBS Market with its Largest Deal Yet March 18, 2019 Brandon Ivey The underlying mortgages have an average credit score of 703...Read More
Short Takes: A New Wave of Optimism? / Value Your CFO / Feds Plan Community Hearings on BB&T-SunTrust Deal / MFA Buying Plenty of Whole Loans. Can An MBS Be Next? / Former HUD Official Pam Patenaude Lands March 18, 2019 Paul Muolo Mortgage REIT MFA Financial, New York, bought roughly $1 billion worth of loans during the fourth quarter...Read More
What We’re Hearing: The Changing of the Guard at the FHFA / A Deep Resume / Retained Capital for Fannie and Freddie, a Matter of When? / The Holy Grail / Impac Mortgage, Act III / FHA Moves to Sure Up its Book March 15, 2019 Paul Muolo An increase in retained earnings is a pre-cursor to GSE “recap and release,” or as Fannie/Freddie investors call it, the Holy Grail…Read More
REITs Add to Agency MBS Holdings, Non-Agency Down March 15, 2019 John Bancroft Agency securities accounted for $26.4 billion of the growth in REIT MBS holdings over the course of the year…Read More
A Challenging 4Q18 for Impac; Lender Sells $10.5B of MSRs March 15, 2019 Paul Muolo In the fourth quarter, Impac’s gain-on-sale margin increased 85 basis points to 203 bps, a reflection of its growing originations of non-QM loans.Read More
FHFA’s Otting in a Position to Bolster the Non-Agency Market March 15, 2019 Brandon Ivey SIFMA’s Daniel Goodwin: “Financial regulators must create a level playing field so that entities like the GSEs do not enjoy capital benefits that add to the tilting of the market…”Read More
Buyouts from Ginnie Mae MBS Boost Supply of NPLs March 15, 2019 Brandon Ivey According to market watchers like Peter Barkey of Roosevelt Management, there are about $4 billion in Ginnie buyouts per month…Read More
SBC Chairman Crapo Schedules Two Days of Hearings on GSE Reform March 14, 2019 Paul Muolo NAR would like to see Fannie and Freddie restructured as tightly regulated shareholder-owned utilities...Read More
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