Investors greeted “at-the-market” equity offerings by REITs fairly well last year. One analyst described the activity as “defensive” capital raises that strengthen the balance sheet.
Buying 5% to 6% bulk MSRs in the secondary market might seem like a crazy idea given the prepayment risks involved. But the longer mortgage rates stay higher, the more it looks like a smart move.
San Diego-based Guild Mortgage said it’s buying origination assets from one of Utah’s largest lenders. Given the recent jump in interest rates, some believe the “roll-up” of shops is just getting started.
Credit unions have found a way to unload low-coupon agency-quality mortgages through participation deals. MIAC is working on a $100 million transaction.