Freddie Mac's STACR issuance was up solidly in the third quarter, along with its reinsurance program. While Fannie’s CAS production was down, volume will pick up in the fourth quarter. (Includes data chart.)
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Despite a solid gain in refinance transactions, CLO issuance fell 26% from the second to the third quarter. Octagon Investment Partners was the top is-suer at the nine-month mark. (Includes data chart.)
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Three names are being kicked around to head Ginnie Mae, the government’s $2 trillion MBS guarantor: Robert Couch, Clinton Jones and Joe Murin. But is something else afoot?
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JPMorgan Chase for years issued relatively staid prime non-agency MBS but in the past year the firm has added more variety in its collateral.
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Citadel Servicing, which played a key role in the rebirth of nonprime lending this decade, will have new owners soon. But will the firm finally tap the securitization market? Stay tuned.
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Redwood Trust’s investments have generated returns of around 12% so far this year. The REIT is increasing acquisitions of re-performing loan securities issued by Freddie Mac.
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The outlook for hotels and suburban offices remains questionable because excess supply is likely driving up default risk in commercial MBS backed by these property types, says Moody’s.
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The agency is seeking comment on an initial draft policy guidance for accepting digitized mortgages and loan packages as underlying collateral for Ginnie MBS.
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