The attorney for the lenders faced scrutiny from some of the liberal-leaning justices on the Supreme Court, including Justices Ruth Bader Ginsberg, Elena Kagan and Sonia Sotomayor
EverBank – which is in the process of being sold to TIAA – originated $869.8 million of jumbos in 3Q16, a 1.5 percent sequential decline, and down 28.7 percent from the third quarter of 2015.
The CFPB did not like the idea of some lenders using an Internet-based tool that aggregates employer data and estimates income based upon each consumer’s zip code, job title, and years worked…
An affiliate of Shelter Growth Capital Partners issued its first nonprime MBS late last week, according to offering documents obtained by Inside MBS & ABS. The $113.71 million deal included non-qualified mortgages from a number of lenders. The mortgages in SG Residential Mortgage Trust 2016-1 were acquired by SG Capital Partners, an affiliate of Shelter Growth, an investment manager and hedge fund. SG Capital Partners started acquiring non-agency mortgages in January 2015. As of June 1, Shelter Growth had...
The government-sponsored enterprises are well on their way to trimming their retained mortgage portfolios to less than $250.0 billion each by the start of 2018. As of the end of the third quarter, Fannie Mae and Freddie Mac had a combined mortgage portfolio of $615.65 billion, down 3.3 percent from June. While Freddie historically had the larger retained holdings, the two portfolios are now roughly equal. Under the current terms of their conservatorship, Fannie and Freddie are required...[Includes one data table]
An affiliate of Shelter Growth Capital Partners issued a $113.71 million nonprime mortgage-backed security last week, according to offering documents obtained by Inside Nonconforming Markets. SG Residential Mortgage Trust 2016-1 is the first MBS from Shelter Growth’s SG Capital Partners. Shelter Growth is an investment manager and hedge fund with $1.08 billion in assets under management as of June 1, according to a filing with the Securities and Exchange Commission ...
Jumbo lending declined in the third quarter of 2016 on a quarterly basis at some mid-sized banks, according to an analysis by Inside Nonconforming Markets. Officials at the banks suggest that the market for jumbo mortgages is still relatively strong, however, with some showing increased pipelines for originations. First Republic Bank had $2.81 billion in total mortgage originations in the third quarter of 2016, down 4.4 percent from the previous quarter. Most of the bank’s production ...
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