Mortgage bonds largely unscathed after Moody’s downgrade of US
Mortgage bonds supported by government-backed companies like Fannie Mae and Freddie Mac were trading slightly wider Monday morning after Moody's Ratings downgraded the US late last week.
Secondary markets
TCB appeals ruling for Ginnie Mae in lawsuit over collateral
The closely watched case centers on bank allegations the government corporation promised certain reverse-mortgage assets in return for funding then reneged.
How Angel Oak handled volatility’s impact on non QM
The company took a break from securitization during the first quarter but was able to get a deal done shortly after the fiscal period ended.
Castlelake LP, Invictus Capital Partners team up on non-QM
The partnership between alternative investment managers adds to signs investors see the private mortgage market as attractive, albeit not immune to risk.
JPMorgan’s non-prime mortgages raise $332.6 million
Moderate leverage is one example of cleaner credit, as the current collateral pool's original loan-to-value (LTV) ratio is 69.1%, down from 71.7% on the 2024-NQM1 series.
Why Brookfield and Angel Oak are teaming up
The global asset manager wanted access to the smaller company's residential mortgage credit strategies, which will become available to a larger investor base.
Multifamily debt outpaces CRE for 10th quarter
Multifamily debt held by all capital sources continues to grow at a faster pace than the overall commercial market, the Mortgage Bankers Association said.
New FHFA chief revamps Fannie Mae, Freddie Mac’s boards
Federal Housing Finance Agency Director Bill Pulte is the new chair for both and he has removed several members while adding a few new names at each.
Angel Oak eyes non-QM growth if Trump GSE plan advances
Easing regulations on the GSEs will likely drive elevated activity in non-QM if or when it occurs, leaders at the real estate investment trust also said.
Fannie Mae’s net income slips on lower credit-loss benefit
The enterprise failed to improve on its net income but did report a steady profit, and got closer to meeting minimum risk-based regulatory capital requirements.
WaFd is the latest bank to exit mortgage lending
Commoditization of mortgages, plus technology that eases the refinance process, and the regulatory environment, all contributed to the decision.
Freddie Mac promotes from within for CFO role
James Whitlinger, Freddie Mac single family chief financial officer, has served as the company's interim CFO since Christian Lown's departure at the end of June.
Fannie, Freddie hit a 5-year high on plan for ‘eventual release’
Freddie Mac shares rose to $4.14 at 12:30 p.m. in New York Friday, Fannie Mae's stock climbed to about $4.23, each up 22% from the previous day's close.
Nontraditional loan activity to spread in capital markets
Lenders will need to lean on alternative products as limited mortgage rate relief keeps some consumers on the sidelines, but others will tire of waiting and act.
Three deals help wrap up strong year for PLS
Nonagency issuances are expected to increase 85% for this year over 2023, and rise another 36% in 2025, the second best since the financial crisis.
JPMorgan, Goldman Sachs offer prime mortgage securitizations
Unlike some recent RMBS deals, both exclude riskier interest-only loans and those supporting investment properties.
By
John Hintze
New type of Ginnie Mae MBS proposed by mortgage bankers
The proposal is one of several that aims to address difficulties managing early buyouts from mortgage-backed securities pools.
Government-backed credit tightens to decade-low
But the Federal Housing Administration program was the only mortgage loan type to gain market share month-to-month as measured by rate lock percentage.
Freddie Mac hiring former Ginnie Mae executive Sam Valverde
Valverde, who has a wide range of experience in capital markets and housing finance, will join the government-sponsored enterprise's single-family unit.
Unpacking the drivers and costs of GSE repurchase demands
The average cost for a loan seller to buy back a mortgage from Fannie Mae or Freddie Mac for defects is over $32,000, a study from Reggora and Stratmor found.
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