Noting that not a single SEC-registered non-agency MBS has been issued since disclosure requirements were tightened in 2014, the regulator is planning to revisit the standards.
So now the big question: Are nonbanks really that risky when compared to depositories? A few decades ago, Congress had to bail out the savings and loan industry to the tune of $150 billion.
Arbor Realty Trust plans to issue non-agency commercial MBS stocked with multifamily loans that are eligible for sale to the GSEs, expecting better execution for the loans.
In case you haven’t noticed, the yield on the benchmark 10-year Treasury was at 1.86% as IMFnews went to press compared to 1.46% in early September. That’s a difference of 40 basis points…
All of the loans in the MBS were originated by LendSure Mortgage. Ellington owns a 45% stake in the lender and provides a warehouse line of credit to the firm.
Flagstar increased its servicing portfolio by about 50% on an annual basis as of the end of September while no other bank servicer in the top 20 posted double digit gains.