Freddie’s First SOFR-Indexed Bonds Backed by SOFR ARMs December 10, 2020 Dennis Hollier Freddie issued its first multifamily K-deal in which both the floating-rate bonds and the underlying mortgages are indexed to SOFR.Read More
Rising Once Again: Ginnie Mae Buyouts November 25, 2020 Paul Muolo Led by PFSI and Quicken, some of the nation’s largest nonbanks are entering the Ginnie EBO arena. More to come? Read More
A Good Month for MBS Trades. As for Rates … November 19, 2020 Paul Muolo MBS traders and investors had a field day in October as trades jumped to a high not seen since earlier in the year. Then there’s the Fed … Read More
Freddie MF Forbearance Loans Not a Threat October 29, 2020 Dennis Hollier The majority of Freddie Mae’s forborne multifamily loans were in small-balance loan pools. Just 251 of them loans were in the company’s signature K-deals.Read More
Standing in the Way of Huge GSE Earnings: Not Much October 22, 2020 Paul Muolo What might the GSEs earn in the third quarter? Based on their securitization volume, it should be a ton. Just subtract the COVID hit.Read More
Freedom Passes on an IPO But Taps Debt Market for $500M October 15, 2020 Paul Muolo and Yemeng Yang Freedom Mortgage isn’t likely to go public this year but it’s tapping the debt market once again. Fitch weighs in.Read More
All’s Quiet on the Ginnie PTAP Front. Maybe Later? October 8, 2020 Paul Muolo Accelerating delinquencies and forbearance claims have yet to cause a liquidity crisis for Ginnie Mae issuers. How can that be? Funny you ask... Read More
CSBS Moves Ahead with Nonbank Servicing Standards October 1, 2020 Paul Muolo and Brandon Ivey As nonbank MBS servicers continue to gain market share, additional regulation looms large. The latest effort comes from the CSBS. Read More
Raking in the Dough, PFSI Taps the Debt Market September 24, 2020 Paul Muolo Another day and another debt offering by a mortgage company. This time around the issuer is PennyMac Financial, a top-ranked Ginnie Mae issuer.Read More
The Coming Storm: A Resurgence in Ginnie Buyouts? September 17, 2020 Paul Muolo Ginnie Mae buyouts have simmered down the past few months but the improvement may be ephemeral. And nonbanks might be leading the charge.Read More