Whole Loan Update – S&D Edition – 09/16/2022

Where are we in whole loan land? Where are we going? We can answer the first question – Prices are lower, yields are trending higher, and liquidity comes at a premium. The second question generates more questions than answers. TBA prices have dropped more than ten points since the beginning of the year however non-TBA eligible loans execute into a much …

Whole Loan Update 07/06/2022

Things have been moving so fast we haven’t been able to get this market update out before today. Primary rates beginning of the year to today: Brutal second quarter for the mortgage market. Today, origination pipelines are down considerably, margins are being squeezed, margin calls are commonplace, thousands of employees have been laid-off, volatility is spiking, funds are managing redemptions, …

RAMS Whole Loan Price Color 03/14/2022

With all the market activity and volatility, it’s been difficult to get color out on the pools we’re marketing. Year to date, we’ve marketed 476 unique pools for $8.7BB. Below is color on 216 of those pools for ~$3.9BB. If you bid and are looking for more detailed color, please call. If you didn’t bid and are just receiving free …

Whole Loan Update 02/25/2022

We hope your 2022 is off to a great start! 2021 was a very busy year with record volumes and profitability for mortgage participants.  2022 has started off significantly different than 2021 with a big sell-off and a back-up in rates. We have a 40 year high in inflation and strong jobs reports leading into anticipated Fed tightening and tapering …

Whole Loan Update 10/29/21

Another busy quarter comes to an end. Who can believe we are approaching year end already?  As the saying goes, “The only constant is change,” as FHFA reversed their imposed risk restrictions on the NOO Investor cap, Cash Window vs MBS delivery requirements, and risk parameters. Halloween Headlines: Most foreclosure in history started last month Potential Tax increases impacting M&A …

Whole Loan Update 07/07/21

We are halfway through 2021 and the 2nd quarter is now history. The world is forging ahead and trying to put the pandemic in the rearview mirror. Who isn’t planning a family vacation right now! Interest rates remain low and origination volumes remain strong, though pressures are rising.  Refinances have slowed and margins are tightening. Many originators are already evaluating …

Whole Loan Update 04/05/21

A dynamic and changing landscape continues in mortgage land and the financial markets. What a difference a year makes! COVID vaccinations are out in widespread supply and there is light at the end of the tunnel. States that have been in shutdown mode are slowly opening up and lifting restrictions. The pandemic hit just over a year ago and the …

Whole Loan Update 01/08/21

While most people are happy to have 2020 in the rearview mirror, the liquidity crunch in March did not last long, and it ended up being a very good year for mortgage bankers, who enjoyed record volumes (perhaps the most in history – $4 trillion), high margins, and profitability.  Not only was it a good year for origination companies, but also …

Whole Loan Update 10/07/20

It’s a busy time in mortgage finance.  Another strong quarter is in the books with production volume and margins at all-time highs. Quicken, Caliber, United Wholesale Mortgage, Loan Depot, Amerihome, Guaranteed Rate, and Guild are all looking to go public. Funding costs and yields have dropped and credit spreads have tightened close to pre-crisis levels.  There’s plenty of cash in …

Whole Loan Update 07/27/20

It’s great to be a mortgage originator and even better to be a loan officer! Origination volumes and margins are at all time highs.  Originators are working for 350bps PLUS the value of MSRs.  Lenders are growing in order to absorb and manage the new volume. It’s the “pig through the python” conundrum as many lenders are managing capacity by …