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Redwood partners to boost mortgage pipeline

Redwood Trust (RWT +3.2%) is ahead in today's session after last night announcing the formation of MPF Direct with the Federal Home Loan Bank of Chicago. MPF Direct will allow members of a FHLB to deliver residential high-balance mortgages to subsidiaries of Redwood.

Per terms of the agreement, Redwood will be the sole investor in the program for a period of three years.

Source: Press Release

Comments (1)
  • Scott Herstin
    , contributor
    Comments (2) | Send Message
    You have to like the 3 year exclusive. What kind of volume might we expect from this program, anyone know?
    13 Jun 2014, 05:48 PM Reply Like
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