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.

Among the report’s conclusions: Small servicers tend to focus on mortgages in non-metro or rural areas. Also, small servicers are less likely than larger shops to process loans backed by Fannie Mae and Freddie Mac.

Charlie Clark, president of the American Association of Residential Mortgage Regulators, stressed the need to establish prudential standards for nonbank lenders and servicers.

Craig Phillips: “When a company fails, the capital structure is typically eliminated and there are no shares left.”

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…

By the time recap and release is completed, an army of securities attorneys and investment bankers are going to rack up the billable hours…

The decision, hinted at in numerous (recent) press briefings by FHFA Director Mark Calabria, is not expected delay to companies’ exit from conservatorship.

Fannie seems to be blaming the FHFA for the departure of former CEO Tim Mayopoulos. The mortgage giant also warns: “If there were several high-level departures at approximately the same time, our ability to conduct our business would likely be materially adversely affected…”

However, the lender is considering reopening next year, potentially in another state. Massachusetts, New Hampshire, and Rhode Island are potential options...