Rithm Capital hasn’t released many details on its new security backed by MSR, but its CEO Michael Nierenberg calls the transaction “novel” and market participants expect to see more such issuance.
Valverde leaving Ginnie; Cherry Hill ditches Middleman; mortgage rate futures planned; strong master servicer ranking for Computershare; new ETF with MBS; SFA appoints new global head of advocacy.
Spreads on GSE CRT issuance are close to all-time tights, with strong demand from money managers, hedge funds and insurance companies. (Includes data table.)
Loan removals from Ginnie pools was led by borrower payoffs, which accounted for 89.1% of total liquidations in the third quarter. (Includes two data tables.)
Ginnie could face a leadership gap if Acting President Sam Valverde is asked to leave before a permanent president is in place. The agency is currently without a chief operating officer as well.
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