Nonbanks could fund the closing of government-insured mortgages using commercial paper guaranteed by Ginnie and the loans would be pledged as collateral to the commercial paper, former Ginnie President Ted Tozer suggested.

The new insurance asset management unit is being led by former MetLife executive Nancy Mueller-Handal.

While securitizations are often the best execution for Ginnie Mae loans, small and mid-sized GSE lenders will typically prefer the cash window.

Mortgage payoffs accounted for nearly 90% of loan repurchases from Ginnie MBS in the second quarter. Early buyout activity remains constrained due to elevated interest rates. (Includes data chart.)

MCT and Mr. Cooper teamed up on a white paper explaining the nuances of co-issue MSR sales.

Ashford Hospitality Trust, a Dallas-based REIT, says handing back the keys on 19 hotels will cut the company’s debt by about $700 million, a reduction of more than 18%.

Some fees paid by mortgage insurers for loans included in nonperforming loan sales were not passed through to related credit-risk transfer deals.

Credit Suisse rejects bids for non-agency MBS servicing handled by SPS; SFA President Kristi Leo to depart; Ginnie sets timelines for transition away from GinnieNET; hotel operator details reasons for ceasing payments on loan in commercial MBS.

UBS exiting TBA trading business; Ginnie to increase servicing disclosures; Ellington to acquire Arlington.

Removals from Ginnie MBS were few and far between in the first quarter of 2023 as elevated interest rates limited loan payoffs and other withdrawal activity. (Includes data chart.)