Fresh off its sale announcement, Deephaven Mortgage is rolling out a $439.9 million MBS backed mostly by non-QM loans. Meanwhile, with rates falling and originations in the sector remaining strong, other lenders are planning such deals as well.
Bullish signs abound for non-QM securitizations. Top-ranked lenders Angel and Citadel Servicing Corp. are coming off record originations for 2Q19. Angel Oak believes the market is underestimated.
Grapevine: Declining interest rates can cause MBS investors to fret over prepayment speeds, but several players are using the reduction to sell debt, issue new stock and engage in buyback programs.
Agency MBS trading hit a yearly low in May. What lies ahead will be determined by the Federal Reserve. Will the central bank ease credit? And if so, what will happen to MBS prepayments?
In the MBS Grapevine this week: The lowest rates ever (maybe) and concerns about future GSE earnings from regulator Mark Calabria. Also, Ginnie Mae seeks committed capital.
MBS investors are keeping a close eye on the auction of Ditech Financial. The troubled nonbank is a top-ranked servicer of Ginnie Mae product. The biggest fear: The company will run out of cash.
The trading volume was decent during April but paled in comparison to most other months this year. Meanwhile, investors are worried about the usual: declining interest rates and prepayment rates. And a new wild card has emerged: A possible rate cut by the Fed.
The firm detailed its residential mortgage-related assets under management in a recent filing, demonstrating its dominating presence in the housing-finance market.
FHFA Director Mark Calabria has vowed not to monkey with the 30-year FRM or lower loan limits in high-cost states like California. Still, certain stakeholders worry he may try to adjust other areas of businesses.
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