Mortgages eligible for sale to the GSEs accounted for about 25% of the dollar volume of loans in prime non-agency MBS from Redwood earlier this year while the new deal includes a 10% share of GSE-eligible loans.

Toorak is a leading issuer of fix-and-flip securitizations. The firm has aggregated more than $3.0 billion worth of product since 2016.

The FHFA announcement comes as financial institutions and regulators struggle to identify a suitable replacement index for LIBOR. 

Caliber’s Elite Access program is aimed at borrowers who could not qualify for a jumbo mortgage at a bank.

Recent Treasury Department figures show foreign holdings of agency MBS grew by $42.9 billion from March to June…

Freddie Mac declined to say how much credit it had extended under the pilot, though a spokesman said it was under $1 billion. 

Combined, Fannie Mae, Freddie Mac and Ginnie Mae accounted for 63.0% of total home mortgage debt outstanding at the end of June.

When it comes to MBS guarantees, it would be a pay-as-you-go system...

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.