It was a bravura performance for the FHA’s Mutual Mortgage Insurance Fund in fiscal 2019. The MMIF ended the year with a capital ratio of 4.8%, more than double the statutory minimum.
The non-QM market has been so hot this year that M&A activity is beginning to pick up a head of steam. Luxury Mortgage is the latest lender to pull the sale ripcord. There could be more.
One of these days, the two mortgage giants will commence with a new stock offering. Right? The market seems to be betting on the fact, as are the government-sponsored enterprises.
Aside from g-fee pricing, most of the ways the GSEs could engage in volume discounting would take place in the secondary market. That means they’re not really violating regulations.
PennyMac Financial is doing so well these days that it decided to declare a dividend to its common shareholders. When’s the last time a nonbank accomplished such a feat? Hard to say.
As the GSE recap-and-release avalanche continues, there’s increasing chatter in the market that Treasury is open to a legal settlement with Fannie/Freddie shareholders. A crazy idea? Maybe not.
HPS Investment Partners, a firm chock full of Wall Street veterans, has agreed to buy non-QM lender Citadel Servicing Corp. After the sale closes, CSC founder and CEO Dan Perl will part ways with the firm.
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