The jumbo mortgage market continues to gain steam. FHA loans are winding down.
Redwood Trust
The market for jumbo mortgage bonds not backed by Fannie/Freddie still slim. But here's a new sign of life.
For those out there rooting for the non-agency (jumbo) market to come roaring back, there is a step in the right direction. Pricing engine Optimal Blue has released Redwood Trust’s Jumbo Fixed and ARM products. Redwood has seen a solid increase in their number of clients, percentage-wise, in the last year, and with good reason.
For those out there rooting for the non-agency (jumbo) market to come roaring back, there is a step in the right direction. Pricing engine Optimal Blue has released Redwood Trust’s Jumbo Fixed and ARM products. Redwood has seen a solid increase in their number of clients, percentage-wise, in the last year, and with good reason.
Redwood Trust president Martin Hughes just told the Senate Banking Committee that “the illiquid private securities market would come back if the government winds down government-seized housing giants Fannie Mae and Freddie Mac.” Redwood was the only firm to securitize any non-Fannie/Freddie (aka Jumbo, aka non-agency) mortgage backed securities during the entire financial crisis. Click
The jumbo market is making baby steps. Redwood Trust Inc. is marketing a $280 million residential mortgage-backed security, the first private deal of 2011, backed by a mix of fixed-rate and adjustable-rate mortgages. According to news on the issue, the average loan size is $978,000 and the average FICO score is 775 – pretty similar
Scott Garrett, the chairman of the House Financial Services subcommittee on capital markets and government-sponsored enterprises said that the U.S. government needs to end its role in the mortgage market as it decides the future of Fannie Mae and Freddie Mac. “Let me stress and be very clear where I stand: I am firmly committed
Scott Garrett, the chairman of the House Financial Services subcommittee on capital markets and government-sponsored enterprises said that the U.S. government needs to end its role in the mortgage market as it decides the future of Fannie Mae and Freddie Mac. “Let me stress and be very clear where I stand: I am firmly committed
Why Rates Are Down Slightly Are we on a rate rising or falling trend? Last week and the week before, mortgage rates moved higher because of inflation fears from better economic data, and political opposition to the Fed’s quantitative easing program. Then yesterday bonds rallied a bit to bring rates down. The $35 billion 2-yr
How To Get A Quick 5-Point Credit Score Gain Here’s a tip of the day: if a borrower needs an additional 1-5 pts on a FICO score to qualify for a particular home loan program, with the borrower’s permission use the painless 5 year electronic opt-out on www.OptOutPrescreen.com. Apparently it has a positive impact on