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CMBS Delinquencies Steady, But 2023 May Be Different Story

November 17, 2022
Sam Manas
The CMBS delinquency rate will be steady through the end of the year, Fitch Ratings said, before deteriorating in 2023. Meanwhile, KBRA found that most of the single-borrower CMBS loans in default developed performance problems during the height of pandemic lockdowns.
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Grapevine: 100% HELOC MBS; S&P Settles With SEC; Angel Oak Launches ETF

November 17, 2022
Namrata Bhatia
An MBS stocked solely with home-equity lines of credit; KBRA assigns rating to an $808.2 million CMBS conduit transaction; S&P settles with SEC; a new ETF focused on mortgage assets.
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FHA Ekes Out Slight 3Q22 Gain as Other MIs Fade

November 17, 2022
John Bancroft
The biggest problem for the PMIs: a 13.7% decline in new purchase business...
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Mortgage Company Layoffs? Yes. WARN Act Filings? Not So Much

November 17, 2022
Paul Muolo
There seems to be a bit of confusion in the industry regarding when mortgage bankers need to register layoff notices with the states.
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G-Fees Rise — Thanks to the ‘Adverse Market’ Refi Charge

November 17, 2022
Dennis Hollier
FHFA said upfront fees jumped from 11 bps to 13 bps...
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Impac Has Until February 2024 to Comply With NYSE Standards

November 17, 2022
Paul Muolo
Impac's stock price hit a low of 24 cents a unit this year...
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FHA MMIF Capital Ratio Hits 11.11%, No Premium Cut Announced

November 17, 2022
Monica Hogan
Although FHA is required to maintain a minimum 2% capital ratio, there’s nothing in its Congressional mandate that speaks to a maximum.
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Layoffs Abound. As for WARN Act Filings…No

November 17, 2022
Paul Muolo
Thousands of mortgage workers have been handed pink slips this year as companies move to cut costs. But it appears many shops aren’t telling the states, as required by law. Is there a rational explanation?
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Time for UWM to Move Servicing Inhouse? Not Really

November 17, 2022
Paul Muolo
United Wholesale Mortgage explored the idea of servicing its own mortgages but passed. For now it's sticking with its two subservicing vendors, one of which is Cenlar.
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NMLS Renewals Stumble Early but Seem Stable Now

November 17, 2022
Sam Manas
The two-month renewal period began with some 2021 deja vu: reports of issues with credit reports and identity verification. But the problems were resolved in the early days.
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