Torn between 5s and 5.5s as both offer just about the same amount of carry on a hedge adjusted basis. The 5.5 roll needs to move higher between now (06/04) and next Tuesday (06/10) as the stratification of every favorable loan type created too big a short in TBAs. Pay-ups for the various specified pool types exploded in the past month and seeming to price most retail investors out of the market. CMO and derivative deal execution seem the best bids for this paper in more current coupons. GNMAs aren’t breaking down vs. conventionals. But if the FNMA 5.5 roll the GNMA/FNMA 5.5 should collapse and carry the entire GNMA sector lower.
-
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
5m ago -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17 -
The Structured Finance Association questions whether funding closed-end seconds is an appropriate role for the government-sponsored enterprise, while newer lenders welcome the liquidity support.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The bank is a top auto lender, with a managed portfolio of $7.1 million through December 2023, and has a strong servicing track record.
April 17 -
The initial protection amount, Moody's says, is 12.5% of the total reference pool and equals the principal amount of the rated and unrated issued notes.
April 17