Banks are reducing their appetite for new mortgage originations, particularly among non-agency products. Nonbanks see an opportunity to take some market share.
More banks are considering leaving the residential lending/servicing sector or scaling back. Will these decisions, made during tough times, come back to haunt them?
The “sea of red” in the mortgage bond market probably isn’t going to be enough to get the Federal Reserve to reduce interest rates, according to industry experts.
Mortgage REIT Rithm wants to unlock the market value of its mortgage banking franchise by spinning off the unit into its own publicly traded company. A serious idea or a ploy to juice the share price of the parent?
The government could default on its debt obligations as early as June 1, the Treasury Department warned. The development could have major ramifications for mortgage lenders and the broader economy.
The FDIC closed First Republic Bank this week and JPMorgan Chase acquired substantially all of the bank, with help from a loss-sharing agreement provided by the FDIC.