The Sprout Mortgage saga continues. Word on the street is that the now-defunct company is looking to sell off somewhat seasoned loans with a UPB of roughly $320 million.
Angel Oak’s REIT saw its share price fall to a 52-week low of $8.73 a unit this week. The problem? Rising rates and a tough whole-loan market. Still, the non-agency MBS player has secured new financing.
Although the storm primarily caused flooding, auto ABS transactions are protected from extensive losses because of their robust structures and credit enhancement, S&P said.
Nonbanks continued to broaden their footprint in agency mortgage servicing during the third quarter, particularly the Ginnie market. Bulk MSR acquisitions played a role in that.
Repo lines, a type of warehouse financing, are being trimmed left and right these days as originators move to save money. A surprise? Not exactly, but it seems the filers are proliferating.
The approaching midterm elections have once again sparked debate on when the FHA will announce a reduction in insurance premiums. Will the Biden administration use an MIP cut to stoke Democratic support?
The CFPB’s fair lending director in a new blog post reminded borrowers they can use reconsideration of value processes to question appraisals. The post came with a more subtle message directed at lenders: Make your ROV processes as easy to use as possible.
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