First Guaranty Mortgage Corp., a prime and non-agency lender owned by PIMCO, has gone bust, leaving a long list of creditors in its wake. The big question: Are there other FGMCs out there?
Overall, banks and thrifts reported a decline in the volume of mortgage repurchases and indemnifications made during the first quarter, but most major institutions saw increases. (Includes data chart.)
The single-family rental sector took heat in Congressional hearings from those who believe the presence of institutional investors in the sector makes it harder for low-income families to purchase starter homes.
Ohio recently became one of 20 states to have some form of legislation or regulation providing remote work opportunities for licensed mortgage loan originators.
Inflation and lingering economic struggles from the pandemic have exacerbated housing affordability challenges among financially stressed households, the report said.
The meteoric rise in interest rates has subsided somewhat, giving originators a respite. For three weeks in a row, new applications have increased. But can the winning streak last? M&A on the rise?
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