For a while there, during the early days of the pandemic, Impac Mortgage appeared to be on the ropes, but it’s back in the lending arena, sans its non-QM menu.
Having hit a rocky patch during the pandemic, Impac Mortgage will be late in reporting first-quarter results and it’s selling most of its MSRs. What’s next?
Lenders that made significant investments in technology in recent years reported better metrics than other players in several areas, such as origination costs and productivity.
Rep and warrant insurance, which covers corporate functions and not loan-level issues, has increasingly been used in mergers and acquisitions outside of the mortgage industry.
Nonbanks with large servicing portfolios are generating high margins from originations. The production is focused on agency mortgages, as nonbanks have largely stopped originating non-agency loans.
Is warehouse credit getting so tight that some nonbanks are considering ei-ther purchasing or becoming affiliated with a federally insured depository? Looks that way.
Banks increased reserves for loans held in portfolio during the first quarter on implementation of new accounting standards. Many delayed the impact of CECL on regulatory capital.
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