The gap between when prepayment proceeds are received and when the funds must be transferred to agencies provides an opportunity for servicers to use the funds for forbearance-related advance payments.
The average credit score for VA loans rose 1.3 points from the fourth quarter to 716.1 in the first three months of 2020. That’s the highest reading since loan-level MBS became available from Ginnie in 2014.
All of the mortgages in MFA’s planned MBS were originated by Citadel, leading to speculation that the deal was scrapped. However, a spokesperson for MFA said the REIT still plans to issue the security.