FINRA made some concessions to the industry in the proposal issued in October, but many MBS traders warned of dire consequences if the proposed margin requirements take effect.
The second whole-loan securities risk-transfer transaction from Freddie Mac received a rating from Moody’s Investors Service. The rating service said the $634.64 million deal included a number of improvements compared with non-agency MBS, which have a similar structure. Much like non-agency MBS, the deal was backed by mortgages and included senior and subor-dinate tranches available for purchase by investors. The M1 tranche of FWLS 2015-SC02 ...
After a seven-year hiatus, Silver Hill Funding this month re-entered the market for small-balance commercial mortgages, rolling out a menu catering to borrowers that are looking to buy multifamily properties, as well as office, retail, light industrial, self-storage and mixed use. Under its initial program, it will extend credit to both investors and owner-occupants ranging from $250,000 to $1 million as the nonbank attempts to serve a niche that it believes is ignored by ...
In the same blog post, Hsieh – who did not talk to the press about the scuttled IPO – described loanDepot as a “unicorn startup,” calling it “one of the very few success stories not from Silicon Valley.
Commercial banks and savings institutions reported a hefty decline in mortgage-banking income from the second to the third quarter of 2015, according to a new Inside Mortgage Trends analysis of call-report data. The banking industry earned $3.793 billion from mortgage banking during the third quarter, a 37.7 percent decline from the previous three-month period. That’s an even bigger drop than the 25.8 percent decline reported by the group of 34 ... [Includes one data chart]
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