JPMorgan (JPM) is prepping its first sale of private-label mortgages since the financial crisis,...


JPMorgan (JPM) is prepping its first sale of private-label mortgages since the financial crisis, reports Bloomberg. The revival of non-agency MBS can be seen in the stock price of Redwood Trust (RWT) - other than Credit Suisse - the only issuer of such since 2008. Not subprime, these bonds are backed by good credits on jumbo loans bigger than what the GSEs will accept.

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  • TwistTie
    , contributor
    Comments (2429) | Send Message
     
    This is really great news.

     

    I've been waiting for and expecting this to happen because I believe this is what Uncle Ben has been trying to accomplish.

     

    Ben: Hey Jamie, are you ever going to make any money?
    Jamie: Not with you around.
    Ben: It's not my fault that nobody can afford to buy a house.
    Jamie: We need to something to create an interest spread.
    Ben: I know, I'll buy up all of the puny agency MBS. That will force the mREITs to hunt for good non-agency paper; and there isn't any. Hint.
    Jamie: I have to go to the office.
    20 Feb 2013, 05:30 PM Reply Like
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