The Sprout Mortgage saga continues. Word on the street is that the now-defunct company is looking to sell off somewhat seasoned loans with a UPB of roughly $320 million.
Angel Oak’s REIT saw its share price fall to a 52-week low of $8.73 a unit this week. The problem? Rising rates and a tough whole-loan market. Still, the non-agency MBS player has secured new financing.
Repo lines, a type of warehouse financing, are being trimmed left and right these days as originators move to save money. A surprise? Not exactly, but it seems the filers are proliferating.
Nonbanks have been concerned about Ginnie’s new capital standards, but perhaps the agency has seen the light? Or at the very least, a compromise? Meanwhile, MSR auctions are picking up a head of steam.