Virtually all the shrinkage in 2016 took place among the four megabanks with over $1 trillion in assets: Wells Fargo, JPMorgan Chase, Bank of America and Citibank.
About one-third of the lenders surveyed by Fannie currently use technology service providers and another third are investigating next-generation technology service providers.
Anne Canfield cautioned that if the FCC adopts the changes requested in the petition, lenders would largely be prohibited from calling distressed borrowers.
Fannie Mae is preparing to issue a Connecticut Avenue Securities risk-sharing transaction relating to mortgages with an unpaid principal balance of $39.99 billion.
Fannie Mae and Freddie Mac multifamily lending is booming and hit a record high in 2016, but how long will that streak last? Some say the supply and demand dynamics are changing as developers rushed to build to meet a growing demand that may be leveling off some this year.Fannie ended last year having provided $55.3 billion in financing and support of the multifamily market. In 2016, Freddie financed $56.8 billion in loan purchases and bond guarantees. “Credit performance of the book of business was strong in 2016. The number of multifamily foreclosed properties held for sale remained low at 13 properties as of December 31, 2016,” reported Fannie.
Tricon Capital Group’s recent announcement that it plans to buy single-family rental operator Silver Bay Realty Trust for $1.4 billion in cash is a potential sign that this thriving sector could be in for a round of consolidation. Once the deal is completed, the combined SFR company will have 16,800 homes in its stable of rentals – 9,000 coming from Silver Bay and 7,800 coming from Tricon American Homes, the U.S. residential division of the Toronto-based TCG. Among SFR operators, TAH/SBRT will rank...
It’s been roughly 42 months since the last nonbank mortgage lender went public. And it could be another 42 months before the next one comes along the way things stand today, which is kind of odd given that the industry is coming off its second-best production year of the decade. But most publicly traded nonbanks, with a few exceptions, haven’t exactly lit the world on fire the past two years. Two of the nation’s largest nonbank servicers – Walter/Ditech and Ocwen Financial – continue to trade near their 52-week lows and at a steep discount to their all-time highs. In the case of Ocwen, the fall has been...
There are currently more buyers for retail origination platforms than there are entities available for sale, according to Strategic Mortgage Finance Group. Stratmor helped advise First Priority Financial last year as the lender was being acquired by Caliber Home Loans. First Priority had more than 370 employees with branches in California, Oregon, Washington, Idaho and Iowa. Terms of the transaction weren’t disclosed. “This deal, along with several other transactions in the Stratmor pipeline, now enable...
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