In April, issuers offered $4.95 billion of prime non-agency MBS across nine deals. Meanwhile, only two expanded-credit MBS hit the market, totaling $735.58 million.
In January, the FHFA and Treasury limited the GSEs’ purchases of mortgages for investment properties and second homes to 7% of single-family acquisitions. Implementation of the cap is hitting lenders.
PennyMac Financial Services plans to open an office in the Nashville area and its currently hiring loan officers in the area for its consumer direct lending business.