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Volume 2017 - Number 32

August 18, 2017

Merger of SFR Operators Invitation Homes and Starwood Could Spell More Opportunities for Fannie and Freddie

The proposed $4.3 billion merger of single-family rental operators Invitation Homes and Starwood Waypoint Homes will create a corporate landlord with 82,000 homes – and a behemoth of a potential client for Fannie Mae and possibly Freddie Mac. Earlier this year, Fannie agreed to provide Invitation Homes with $1 billion in financing. The deal broke new ground for the government-sponsored enterprise, but it also raised questions about whether a government-owned entity that received billions in taxpayer assistance should be lending money to a company (Invitation Homes) grubstaked by Wall Street. Since the Invitation-Fannie arrangement was unveiled, no other significant SFR financing vehicles involving a GSE has...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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