After the transaction closes, business-purpose lending investments will account for more than 15% of Redwood's investment portfolio, up from a 4% share.

The megabank – a bellwether for the residential finance industry – also reported that mortgage banking income fell 38.5% sequentially to $466 million...

Keep in mind that, Ginnie MBS is back-stopped by the full faith and credit of the U.S. government. By comparison, Fannie Mae/Freddie Mac MBS carry an “implied” guarantee.

Those in favor of the concept include: JPMorgan Chase, PennyMac Financial Services, the Housing Policy Council and the Structured Finance Association…

The VA program saw the sharpest spike in refi activity, shooting up 69.7% from the second quarter.

The new MBS differs in some ways from previous expanded-credit issuance from Annaly, including a reduced reliance on mortgages from Banc of California and an increase in investment-property loans.

“We’re trying to be holistic about this,” said FHFA Director Mark Calabria, “which obviously means it takes time.”

Expanded-credit MBS issuance (the sum of nonprime and Alt A) hit $9.90 billion in the third quarter, a 60.8% jump from the previous period.

The lender argued that a financial institution that is subject to a pending enforcement action by an unconstitutionally structured agency is entitled to meaningful relief.

By now, everyone knows the Federal Housing Finance Agency plans to hire an investment banking firm to assist with recap and release plans, but what about the GSEs?