“The short-term nature of the collateral paired with an attractive yield makes for a rare opportunity in today’s investing climate,” said Angel Oak’s Sreeni Prabhu…
The significant gains of nonbank mortgage lenders in the government-backed mortgage market suggests that nonbank failures could be quite costly to the government and taxpayers, according to a paper authored by three Federal Reserve Board economists and two university researchers.
As the Federal Housing Finance Agency continues to evaluate alternative credit scoring mechanisms, some experts argue that the agency isn’t doing enough to promote an updated scoring system while others say the current system works just fine.
The Department of Housing and Urban Development and the Federal Deposit Insurance Corp. have announced offerings of multiple residential reverse mortgage pools for sale to investors. The HUD pools are comprised of approximately 650 reverse mortgage notes with a total loan balance of about $136 million. The sale consists of due and payable first-lien reverse mortgages secured by single-family, vacant residential properties where all borrowers are deceased and none is survived by a non-borrowing spouse. The reverse-mortgage sale is the third offering of its type. As with past offerings, the sale will be by competitive bidding on April 11, 2018. The loans will be sold without FHA insurance and with servicing released. The loans are expected to be offered in regional pools. Meanwhile, the FDIC will unload in open auction 3,280 FHA-insured reverse-mortgage loans from the ...
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