New York-based real estate investment trust MFA Financial is working on two separate non-QM- related MBS deals that could come to market sometime this spring, according to officials familiar with the transactions.
The secondary mortgage market could be in for historic change in the wake of President Trump this week ordering the Treasury Department to end the conservatorships of Fannie Mae and Freddie Mac and come up with a new paradigm.
Freedom Mortgage, one of the largest non-bank lender/servicers in the nation, is ready to issue $250 million worth of debt at an eye-popping cost of 10.75%. Now comes the big question: What will it do with the cash?
President Trump late Wednesday issued a memo ordering the Treasury Department to end the decade-long-plus historic conservatorships of Fannie Mae and Freddie Mac, and design a plan to overhaul the nation’s secondary mortgage market.