The volume of government purchase loans securitized into Ginnie Mae mortgage-backed securities grew in May for the third month in a row. Refi volume declined somewhat compared with April.
Time to REIT-up for United Wholesale Mortgage? Not really, company management said recently. Just two A-paper nonbank lender/servicers — Freedom Mortgage and PennyMac — have jumped into the REIT pond, with different growth outcomes.
Investors can’t seem to get enough non-agency MBS. Issuance is booming and demand is expected to remain elevated thanks to the outlook for interest rates, among other factors.
MBS trading has improved as investors and traders weigh the landscape. One positive: a benign inflation reading this week. But is this a head fake before worse news appears?