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.
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.
Guild Mortgage, the nation’s 20th largest home lender (according to a ranking by Inside Mortgage Finance), is on track to originate a record $20 billion this year…