In case you haven’t noticed, the share price of Fannie Mae and Freddie Mac common has been in a freefall since early June, down 32.4% each.

In a new report to its shareholders, Fairholme Capital Management notes the fund it manages owns a 4% position in the preferred shares of Freddie, “which currently trade at less than half of stated liquidation values, implying potential current yields of over 14% per annum.”

During the quarter, Redwood issued a $400.84 million prime non-agency MBS and sold approximately $800 million through whole loan executions.

Large nonbanks the likes of UWM, Quicken and loanDepot are hiring but overall, the mortgage employment figures for June were not particularly strong...

In 2016, J.G. Wentworth Co. was delisted from the New York Stock Exchange. At the time, its shares traded for 40 cents apiece compared a 52-week high of $10.41. 

Ginnie Mae is turning off the spigot on refinances of high LTV mortgages guaranteed by the VA...

Fannie has paid Treasury a stunning $181.4 billion in dividends to the U.S. Treasury compared to cash draws of $119.8 billion...

“The originations segment now acts as a much stronger macro hedge for our servicing operation, and we believe it will play a major role in helping us achieve our profitability and shareholder return targets,” said Jay Bray, Mr. Cooper’s chairman and CEO.

“It’s a blessing and a curse to get this much volume this quickly,” said Matt Ostrander, chairman and CEO of Parkside Lending.

A few months back, the firm raised $23 million by selling notes due in 2024. The unsecured, unsubordinated paper pays a yield of 7.125%. Sachem has received an investment grade private rating of BBB+ from Egan-Jones Co.