As one vendor put it: “Loss mitigation was behind the scenes for a while because everyone was saying that foreclosures are low and bankruptcies are stable. Well, that’s not the case anymore."
CBO, in a report that received little notice, based its estimates on a variety of assumptions about the companies’ retained earnings, capital requirements and more...
To meet the qualifications for a seasoned QM, a loan must be held by the creditor for at least 36 months after origination and have no more than two 30-day delinquencies during that time period...
The SPAC, which carries the name Foley Trasimeme Acquisition Corp. II, has a stated goal of effecting mergers and/or buying capital stock in the “financial technology space.” Asset acquisitions are also part of the plan.
Retail-originated refi production was particularly strong at the GSEs, climbing 160.5% from the first to the second quarter. By contrast, deliveries of retail refi loans rose 30.5% at Ginnie Mae, where total MBS issuance increased more modestly...
However, there’s a catch to the Ginnie number. Servicers of government product, especially depositories with a balance sheet, increasingly are buying delinquent FHA and VA loans out of MBS pools as a way to save money and possibly rehabilitate them down the road.
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