In a statement, MBA Chief Economist Mike Fratantoni said, “The job market has cooled somewhat over the past few weeks, with layoffs increasing and other indications that the economic rebound may be losing some steam because of the rising COVID-19 cases throughout the country. It is therefore not surprising to see this situation first impact the Ginnie Mae segment of the market.”
On Thursday, Rocket Companies, the parent of Quicken Loans, will debut on the NYSE. If warmly received, the mortgage IPO could pave the way for other deals.
The analyst (and others) reminds us about a lack of personnel at Treasury and a dearth of institutional knowledge about the GSEs. If we are indeed in the final days of the Trump administration, political appointees will be tweaking their resumes and contemplating greener pastures…
Priority Financial had sued New Residential for reneging on commitments to buy its production during the height of the pandemic. The company also filed similar charges against Angel Oak.