In business for 40-plus years, FCI has stuck to its knitting of servicing delinquent and nonprime product. According to management, it’s secret sauce is focusing on state-of-the-art technology, including AI.

The new bonds help the GSEs reduce the amount of capital they must set aside under the enterprise regulatory capital framework.

The investment vehicle plans to mainly buy whole loans, but may also purchase ABS.

Rising mortgage delinquencies increase spreads on residential MBS, as expected, along with spreads on credit card, student loan and auto loan ABS.

After noting a decline in market share during the second quarter, nonbanks increased their share of originations to 65.5% in the third quarter. The increase was driven by the largest nonbanks.

There are at least two Canadian banks actively soliciting nonbanks for warehouse lines of credit. The moves come with the hope that originations will improve in 2025.

The lawsuit accuses Rocket Homes of steering customers to its affiliated companies for mortgage loans and closing services.

The next step to revise capital requirements for large banks is undetermined, two mortgage efforts at the CFPB will fall to a Republican appointee and FHFA’s planned reforms for the FHLBanks face uncertainty.

Despite a lack of historical data on FICO 10 T, Urban Institute researchers find positive signs that the shift away from Classic FICO to VantageScore 4.0 and FICO 10 T will not dramatically impact loan performance.

The new year is underway but not all high-volume producers have signed contract renewals. Some headhunters are advising management not to drag their heels, lest they run the risk of losing their best asset.