What year-end slow down? Michigan Mortgage is searching for 14 new employees for ten of its 28 locations. A majority of the jobs are for loan officers and underwriter positions...
During the worst of the buyback storm in late 2012 and early 2013, the GSEs reported over $18.51 billion of unresolved repurchase requests and as much as $13.22 billion in buybacks during a single quarter.
American Homes 4 Rent, the largest publicly traded player in the single-family rental market, late this week agreed to buy American Residential Properties in a deal valued at $1.5 billion. It was the second transaction involving real estate investment trusts in the SFR sector within three months, and has sparked talk of further consolidation, including perhaps mortgage REITs. A research note from Keefe, Bruyette & Woods, penned right before the AH4R-ARP combination was unveiled, noted that mergers in the space are possible “given current valuation discounts ….” In other words, the share prices of single-family rental REITs have been...
A non-agency MBS sponsored by CarVal Investors issued this week includes a new fee-based compensation structure for one of the servicers involved in the $474.2 million transaction. Mill City Mortgage Loan Trust 2015-1 is backed by re-performing mortgages that had seasoned for nearly nine years, on average. Some 90.1 percent of the loans had received modifications and almost all of the mortgages in the deal were current at the time of issuance. Shellpoint Mortgage Servicing will service...
Edward Pinto, former chief credit officer of Fannie Mae who now studies housing trends for AEI, disputes NAR’s data and describes the first-time buyer market as “booming.”
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