Secondary

The Secured Overnight Financing Rate is a concept in search of an actual forward market, writes Whalen.

Non-QM assets overlap almost perfectly with the portion of loans, 52%, financing properties where the borrower intends to maintain as a primary residence.

Production costs reached a high as secondary-market loan sale margins continued to decline.

Current deputy general counsel Wendell Chambliss steps up to the newly created officer position, with the appointment coming after a similar recent hire by Fannie Mae.

The two latest transactions follow in the wake of the government-sponsored enterprise’s first deal of the year and the release of a finalized capital rule aimed at facilitating broader risk-sharing.

The company, which had been spun off to specialize in services for distressed real-estate investment vehicles, will acquire alternative mortgages and seek opportunities in crypto-enabled ATMs.

The company claims its digital registry system is a faster, safer alternative to MERS databases

As the rising rates shrink the number of potential customers, mortgage brokers are seeking these products in order to keep business up.

Company management believes it can still be successful in the securitization market despite widening spreads.

A majority of the loans, 63.5%, were designated as non-QM loans, and about 36.5% of the loans in the pool are made to investors for business purposes.