MFA Reducing Non-QM Funding Costs with MBS Issuance November 5, 2020 Brandon Ivey Non-QM MBS issuance is helping MFA get out of a hole after market volatility in the spring forced the REIT to take on a loan with costly terms. Read More
A 2021 GSE Loan Limit of Roughly $539,000 November 4, 2020 John Bancroft The limits would be higher for mortgages backed by 2-4 unit properties, as well as loans in designated high-cost markets.Read More
Chimera Posts Profit for 3Q, Shifts Away from Agency Investments November 4, 2020 Brandon Ivey Agency MBS accounted for 25% of Chimera's portfolio at the end of 2019 and only 1% as of the end of September.Read More
Portfolio Growth for the GSEs? Yes November 4, 2020 John Bancroft Fannie’s whole-loan portfolio increased 2.8% during the quarter, while Freddie’s grew 3.8%... Read More
Prime Non-Agency MBS in 3Q20 Fueled by UWM, Depositories November 3, 2020 Brandon Ivey Quicken Loans and loanDepot were the other nonbanks among the top five sources of collateral for these deals... Read More
Velocity Financial Resumes Originations; Income Increases in 3Q November 3, 2020 Brandon Ivey Velocity resumed origination activity in September, funding $63 million of investment-property loans in October. Read More
Ginnie Buyouts Spike at Mr. Cooper. More on the Way? November 2, 2020 Paul Muolo Ginnie buyouts of delinquent mortgages are a common practice – but it takes readily available cash, or a line of credit... Read More
Trouble Ahead for Investors in Non-Agency MBS? November 2, 2020 Brandon Ivey This summer, non-cash-flowing loans as a share of aggregate current balance of non-agency MBS ranged from around 5% of post-2010 prime non-agency MBS to as high as 26% for legacy deals... Read More
Slip, Sliding Away: The Ginnie Mae Servicing Market November 2, 2020 John Bancroft Eight of the top 10 Ginnie servicers as of the end of September had smaller portfolios than at the midway point in the year.Read More
CMBS Issuance Stages a Comeback, SFR/Industrials Boom October 30, 2020 John Bancroft Much of the third-quarter rebound came from securitization of mortgages on industrial properties. Read More