The amended preferred stock purchase agreement between the FHFA and Treasury includes limitations on acquisitions of mortgages for investment properties, second homes and products with “high risk” characteristics...
After reducing its non-agency investments amid volatility from the coronavirus, Annaly is ready to ramp up activity in the sector. The REIT is acquiring non-QMs and packaging them into MBS.
Non-agency forbearance increases; personnel moves at Deephaven, Wells Fargo and Quontic; new non-agency MBS; a jumbo mortgage symposium; PCMA loosens standards for jumbo product.
Morningstar argues it can use undisclosed loan-specific stress adjustments for subjective reasons, including to bring the rating for a commercial MBS in line with expectations based on similar deals.