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Volume 2018 - Number 29

August 3, 2018

Nonbanks Find Relief from VA ‘Orphan Loan’ Debacle With Term Debt, But Many are Unhappy with Agency

Originators stranded with VA “orphan loans” that cannot be securitized in a Ginnie Mae MBS are finding temporary workarounds to deal with the problem, while maintaining hope for a potential solution from the government. However, few firms are holding their breath that Ginnie will come to the rescue, especially since the agency has maintained that only new legislation can solve the problem. The problem was caused by a quirk in a law aimed at preventing the churning of VA ...

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



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With loan volumes declining, does your shop have plans to enter the non-QM lending market in 2019?

Yes, definitely. A solid move forward.
Yes, but only incrementally.
We’re pondering a move into non-QM, but haven’t made up our mind.
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