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Provident Funding Associates and Morgan Stanley are prepping separate non-agency MBS deals. All of the loans in Provident’s security are eligible for sale to the GSEs, while such mortgages account for just 8% of Morgan Stanley’s offering.
Provident’s $526.9 million MBS is stocked with conforming jumbos that have seasoned for an average of one month. Refinances account for 92% of the deal. Provident originated all of the loans and will handle the servicing chores.
Morgan Stanley packaged mortgages from a number of lenders for its $282.5 million MBS. Collateral originated by Quicken Loans accounts for nearly 20% of the issuance. Roughly 20% were sourced through Maxex Clearing, along with a 20% share aggregated by Reliant Bank.
The loans have seasoned for an average of three months and refis account for 55% of the issuance. The monthly processing is being handled by Specialized Loan Servicing.
Most of Home Point’s Originations Come via Brokers
Home Point Financial did 62.5% of its $38.05 billion in total production volume for the first nine months of 2020 via the broker channel, according to Inside Mortgage Finance’s Top 25 Lender Profiles. These quarterly profiles present each lender's business, in dollars and percents, on one page, so you can see all the details — for originations, secondary marketing and servicing — in one snapshot. And they're available by the set or individually, for a specific quarter or as a four-quarter subscription, so you can easily compare, contrast and dig into the mortgage business at Home Point and 24 others.
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