NYMT raises funds via notes to buy more residential assets
New York Mortgage Trust's 9.125% notes due 2029 may help fund new purchases of mortgages and securitizations in the private or agency markets.
Secondary markets
Freddie second-lien decision derided by opponents
But those in opposition are still giving the agency props for how it carried out the new product approval process for the first time.
RMBS issuances highest in two years
Home price appreciation and favorable economic factors have led to consistent loan performance, but prepayments are increasing with an uptick in housing turnover, according to Morningstar DBRS.
FHFA approves controversial Freddie second lien program
The move allows Freddie Mac to start purchasing certain second lien mortgages, but establishes limits on how much volume it can do.
Fears about Freddie second lien program overblown, analyst says
If approved by the Federal Housing Finance Agency, the program will not lead to large amounts of home equity being extracted, nor is it mission creep, wrote Keefe, Bruyette & Woods analyst Bose George.
How mortgage investments may evolve as bank share shrinks
Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.
Ginnie Mae President Alanna McCargo to retire
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
Ginnie Mae issues warning about higher prepayments
The Department of Housing and Urban Development agency warned in an online notice that issuers with prepayments exceeding certain limits could face sanctions.
New Ginnie Mae MSR-related note transactions emerging
KBRA recently assigned low-end investment grade designations to Freedom Mortgage and Pennymac transactions that involve interests in Ginnie Mae mortgage servicing rights.
Ginnie Mae updates doc submission process
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
FHFA extends credit modernization timeline
The changes made to the schedule of bringing advanced credit metrics to major mortgage investors Fannie Mae and Freddie Mac affect bi-merged reports and Vantagescore 4.0's implementation.
Fannie Mae’s earnings up along with higher home values
The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.
Freddie Mac’s profits rise with steadying home price growth
The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.
Delinquent loans on GSE books lowest since 2019
But Fannie Mae and Freddie Mac conducted no private-market sales of nonperforming loans early last year as adjustments were made to the program.
Why distressed loans are scarce but market activity is up
Interest rate-related developments have reportedly created an environment where more mortgage firms are interested in selling and investors are eager to buy.
Mortgage credit at tightest in over 10 years
Industry consolidation has resulted in fewer conventional and government loan programs being offered to consumers.
Mortgage rate sentiment jumps to survey-record high
December's shift in Federal Reserve policy gave a notable boost to the share of consumer respondents who think the affordability of home financing will improve.
CMBS delinquencies drop but new bankruptcy shows issues persist
The delinquency rate that Kroll Bond Rating Agency tracks improved last month but JER's recent Chapter 11 filing and 2024 forecasts suggest it's still under pressure.
Global bond ‘carnival’ sets stage for record two months
Mortgage-backed securities' strong showing since mid-October defies a textbook theory that they typically underperform other types of bonds when yields are falling.
Deb Jones on why 2024 could be a ‘transition year’
Citizens' SVP and director of mortgage secondary and capital markets reflects on what her experience with past cycles suggests about where this one may be headed.
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