In early July, the REIT closed on its previously announced $190 million purchase of Shellpoint Partners, an acquisition that includes mortgage banking firm New Penn Financial.
Mortgage originations rallied in the second quarter of 2018 with most lenders reporting solid gains from a sluggish start to the year, according to an exclusive Inside Mortgage Finance ranking and market analysis. [Includes two data charts.]
After months of gathering and reviewing comments on credit-scoring options, the Federal Housing Finance Agency abruptly called off its plan to announce new guidelines for Fannie Mae and Freddie Mac by the end of this year. The two major credit-score providers aren’t happy with the news.
If nonbanks and real estate investment trusts eventually gain access to the Federal Home Loan Bank system – and the discount borrowing window – they can credit the FHLBank of Chicago, which continues to push the membership issue in Congress.
The Mortgage Bankers Association has met with state regulators in an effort to speed implementation of transitional licenses for loan originators who move from banks to nonbanks or to a new state.
With nonbanks continuing to gain share in mortgage origination, servicing and securitization, their ability to raise fresh capital to appease government guarantors is becoming increasingly important – and comes at a difficult time.