Investors are flocking to non-QM MBS and losses on the deals have been essentially non-existent. However, some large firms continue to hold out for better protections.
The publicly traded Impac is based in Irvine, CA. Its share price is currently at $7.34, more than double what it was in June. Donatacci will split his time between California and New York.
Read the tea leaves: Just 56.4% of second-quarter loan originations have been pooled in MBS. In recent years, the overall securitization rate has run at about 70%.
Flagstar estimates it will recover about $1 million of the cost in the third quarter while it continues to pursue other legal remedies tied to Live Well...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS