Varde Partners, which four years ago purchased fledgling nonprime lender Deephaven Mortgage, Charlotte, NC, is now contemplating selling the company, industry officials who claim to have knowledge of the matter told Inside Mortgage Finance this week.
With Mel Watt’s term as FHFA director ending in early January, a new director appointed by President Trump is widely expected to take actions to reduce the GSEs’ footprint…
Issuance volume and lending practices in the prime non-agency mortgage-backed security market in 2019 will be linked in several ways to the government-sponsored enterprises, according to industry analysts. Volume projections for prime non-agency MBS depend on pricing differences between non-agency execution and delivery of loans to Fannie Mae and Freddie Mac. Non-agency lenders are also expected to increasingly use tools developed by the GSEs. “We expect robust issuance from ...
The adjustable-rate mortgage share of total originations declined in the third quarter of 2018, according to a new ranking and analysis by Inside Nonconforming Markets. An estimated $50.0 billion of ARMs were originated in the third quarter, accounting for 11.5 percent of total originations. In the previous quarter, an estimated $55.0 billion of ARMs were originated, making up 12.4 percent of the market. ARM volume was also down from ... [Includes one data chart]
Ocwen Financial announced last week that it plans to launch non-agency originations in the second quarter of 2019, focusing on borrowers already in its servicing portfolio. The company detailed the plans in presentations to investors. Officials said Ocwen is expanding from originating agency mortgages into non-agency mortgages in an effort to maximize the potential to recapture borrowers in Ocwen’s servicing portfolio. The move is years in the making and follows a ...
Holdings of first-lien mortgages by banks and thrifts increased in the third quarter, according to an Inside Nonconforming Markets analysis of call reports. Banks and thrifts held $2.07 trillion of first liens in their portfolios at the end of September, up 1.2 percent from June and 4.3 percent from a year ago. The holdings have largely been boosted by jumbo mortgages along with loans eligible for sale to the government-sponsored enterprises ... [Includes one data chart]
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