Thanks to the spread of the coronavirus, markets became unglued this week as stock prices plummeted. Meanwhile, Treasury yields fell while mortgage rates actually increased. Confused? Welcome to the club.
Coronavirus-related risks for certain industries represent a significant danger to the U.S. collateralized loan obligations market, but diversification and liquidity buffers may help absorb the immediate impact.
Subservicing vendors continued to make gains in the fourth quarter as the appetite for outsourcing grew. In short, some MSR owners just don’t want to deal with the hassle of loan processing and regulations. (Includes data chart.)
The the spike in refi activity has “meaningfully” increased the pricing power for originators, said KBW. The research firm said gain-on-sale margins from secondary market loan sales should be exceptionally strong.
Sterling said that in connection with the review, a significant number of employees have either been terminated or resigned, including a senior vice president...
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