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?
The flow of refinance loans into the Ginnie MBS program dropped 9.2% in April. Still, year-to-date refi volume in the government-insured market was up a solid 54.4%. (Includes two data tables.)
Non-agency MBS issuance more than doubled on a sequential basis in the first quarter of 2024, with jumbo mortgages making up the majority of loans in the deals. (Includes three data tables.)
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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