Secondary

Firms that offer loans to small-time landlords have been slow to tap the securitization market.

Mid America Mortgage has purchased a $2.7 billion portfolio of Ginnie Mae mortgage servicing rights that its subservicer, LoanCare, took possession of Tuesday.

Freddie Mac's serious delinquency rate dropped below 1% for the first time since 2008, lending credence to its efforts to expand credit access.

Fannie Mae and Freddie Mac will continue to pursue opportunities for the government-sponsored enterprises to provide liquidity to the single-family rental market, despite opposition from mortgage and real estate industry groups.

In an echo of the rescue deals of 2007 and 2008, New Residential's CEO framed the transaction as something undertaken to benefit the entire industry.

No matter what form government-sponsored enterprise reform takes, Federal Housing Finance Agency officials are stressing that it should account for the fact that the GSEs' capital buffer will soon hit zero.

Mortgage Bankers Association President David Stevens is confident that housing finance reform will move forward under the Trump administration, but criticized calls to simply let the government-sponsored enterprises recapitalize and be returned to shareholders without additional reforms.

Bayview Asset Management is marketing another $183 million of bonds backed by reperforming mortgages acquired last year from CitiFinancial Credit Co.

The Louisiana company also said that credit quality in its energy portfolio improved during the first quarter.

CoreLogic's first-quarter net income was down 54% from the prior year as lower mortgage origination volume reduced the need for some of its services.