$4.7B Freddie Mac, Fannie Mae, Ginnie Mae bulk MSR portfolio hits market

Features low percentage of delinquencies
A bulk Freddie Mac, Fannie Mae and Ginnie Mae mortgage-servicing rights portfolio now on the market has two main selling points: its large and has a low percentage of delinquencies. The seller, which is a publicly traded bank, has previous MSR sale experience and originated most of the mortgages through its retail channel.
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Does jobs report mean Fed won't raise interest rates in June?

Layoffs in 2016 are the highest in seven years
The latest jobs report revealed a slow down in the labor market, causing some economists to question the likelihood of a June interest rate rise. As a refresher, the Fed chose not to raise rates in its most recent April meeting, but as many as three rate hikes are forecasted to happen this year. There are only five meetings left in 2016. You can do the math.
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Redwood plans new RMBS in coming months

Posts drop in 1Q net income
Redwood Trust reported a drop in its first quarter 2016 earnings, shedding light on the troubles in the market and what it will do to overcome them. One area it's eyeing — that the rest of the market is hesitant on — is its Sequoia securitization program.
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Fannie Mae 1Q net income slips to $1.1B

Expects to pay $919 million to Treasury
Fannie Mae managed to post a first-quarter net income of $1.1 billion, faring better than most others in the industry that posted a net loss due to the first quarter’s historically low interest rates. Timothy Mayopoulos, president and CEO of Fannie Mae, said, "The changes we have made to the company have put us in a stronger position to fulfill our responsibility to deliver safe, affordable mortgage financing for our customers, in all markets at all times."
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George Will takes on #FannieGate, says GSEs 'should never have existed'

Conservative commentator addresses 'the misadventures of Fannie and Freddie'
Well, it seems we can't go more than a few days without a prominent, national media personality commenting on the stability and standing of Fannie Mae and Freddie Mac, how the GSEs ended up in conservatorship, and what’s next. Last month, Rolling Stone’s Matt Taibbi weighed in. And now, no less than George Will has written about "#FannieGate."
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Freddie Mac's rough first quarter will likely embolden calls for GSE reform

Vocal critics of GSE capital structure hold new card to play
If you listen closely, you can hear the noise surrounding the recapitalization and release of the government-sponsored enterprises from conservatorship getting louder thanks to Freddie Mac reporting a loss of $354 million in the first quarter. Now all those who want to see an end to the GSE conservatorship for whatever their particular motivation is have a new card to play. And they will play it.
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