Posted To: Pipeline Press

Twas a rough night since today it’s garbage day. I was worrying all night, “What should I wear to take it out?” Jeannette M writes, “On January 1st I thought, ‘This is my year!’ By April 1st I’m wiping my a– with a coffee filter. No clue that this was coming.” Aside from science fiction writers, no one had a clue the corona virus would have this impact on the world. Sure, regulators had their eye on non-bank lenders and servicers , but certainly not REITs, which help drive the secondary markets for mortgage production. Their values have plummeted . Hasn’t anyone learned about borrowing short and lending long? Their demand to buy Agency MBS has also plummeted, leading many to observe that the NY Fed is the biggest buyer, and there is no…(read more)

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Source: Mortgage News Daily