With the Dow Jones Industrial Average headed higher, more REITs are selling additional shares of common, striking while the iron is hot. Meanwhile, Invitation Homes is pulling out of Memphis.
The Fannie/Freddie JV in charge of the uniform MBS has a new CEO with a deep background in mortgage finance: Anthony Renzi. In early 2018, he was hired to run the day-to-day operations of Cenlar, the big kahuna of subservicing.
Aaron Samples, CEO of First Guaranty Mortgage Corp., told us his company “does not have an issue paying reasonable market rates for top talent,” adding: “We do not want to be a penny wise and a pound foolish. However..."
Rick Sharga, president and CEO of consulting firm CJ Patrick Co., likened LO signings to the current Major League Baseball winter meetings being held in San Diego “where general managers bid against each other for free agents.”
Other matters on the government’s priority list: setting a commitment fee, resolution of the QM patch, and “any other similar changes that could impact the GSE footprint.”