Private equity firms hoping to cash out their ownership stakes in nonbank lenders via an initial public offering of stock will have to wait a little longer, thanks to a tough origination market and institutional investor interest that lies elsewhere.
Increasing use of smart building technologies such as the internet-of-things can benefit commercial real estate, and thus bring meaningful impact to commercial MBS, said DBRS.
Correspondent-based mortgage production operations lost some ground in the conventional-conforming market during the second quarter of 2018 but made up some of it in an unlikely sector: jumbo originations. Jumbo production by correspondent lenders increased by a huge 63.7 percent from the first to the second quarter of 2018, according to a new Inside Mortgage Trends analysis. The data come from Inside Mortgage Finance surveys from lenders ... [Includes two data charts]
Mortgage sellers repurchased just $226.8 million of defective single-family loans from Fannie Mae and Freddie Mac mortgage-backed securities during the second quarter, according to a new Inside Mortgage Trends analysis. It was one of the lowest quarterly buyback totals involving government-sponsored enterprise loans since Fannie and Freddie began disclosing this activity in early 2012. Repurchases – which include other forms of indemnification ... [Includes two data charts]
The Mortgage Bankers Association is working to reduce the speed talking and fine print that tend to accompany advertisements for mortgages. Currently, ad-disclosure requirements for mortgages vary by state. In August, Illinois became the first state to adopt a uniform ad-disclosure protocol supported by the MBA. Mortgage ads in the Prairie State must now include a reference to the Nationwide Multistate Licensing System and Registry’s consumer access website and cite ...
For nonbank servicers, “the future looks good,” according to S&P Global Ratings. Industry analysts note that nonbank servicers have improved their servicing practices and they could be helped by rising interest rates. While servicing volume among nonbanks boomed in the years after the financial crisis, S&P said the firms hadn’t made adequate adjustments to how borrowers are treated. “Many nonbanks previously exhibited, in our view, a more ‘consumer finance’ mentality to servicing ...
Stearns Lending this week rolled out a new partnership program to acquire equity stakes in independent retail mortgage banking franchises as it tries to broaden its origination base. Under the company’s “Preferred Partner Platform,” Stearns will offer its lending partners technology and operational support as well as capital markets assistance, said company CEO David Schneider. Participating lenders are able to maintain their brand identity, management and culture. The first acquisition was ...
Variations of a mortgage program that guarantees a $1,000 credit toward borrowers’ closing costs if the loan does not close on time are now a big hit in the market, according to some lenders. Under such programs, lenders provide a guarantee on the timely closing of their loan. If for some reason, closing is delayed or postponed beyond the initial closing date, the originator will pay the borrower $1,000 to cover closing costs. Inside Mortgage Trends looked at three mortgage lenders and found ...
RSS