Velocity Stays Profitable as Loan Portfolio Grows August 4, 2023 James Dohnert Business-purpose lender, Velocity Financial, grew its loan production by 19.2% in the second quarter of this year.Read More
Short Takes: Fallout From Fitch’s Downgrade: Higher Interest Rates and GSE CRT Ratings / Somewhat Older Loans in Non-Agency MBS August 4, 2023 Brandon Ivey Fitch's downgrade of its rating for the U.S. influenced interest rates on mortgages and had ramifications for GSE CRT.Read More
‘Noncore’ Share of GSE Activity Declining August 3, 2023 James Dohnert The core share of GSE activity increased to 81.2% in the first quarter, up from 79.4% in the previous quarter.Read More
Ocwen Turns Profit as CFPB Declines to Appeal Court Loss August 3, 2023 Brandon Ivey Ocwen's income received a $28 million boost from “favorable adjustments to significant legal and regulatory settlement expenses.”Read More
MFA Falters in the Second Quarter August 3, 2023 James Dohnert Despite a strong quarter for originations, MFA Financial recorded a loss in the second quarter of the year.Read More
Mixed Results for Black Knight, ICE in Second Quarter August 3, 2023 Brandon Ivey The mortgage market was "weaker than expected" in the second quarter, according to Black Knight's executive chairman.Read More
Short Takes: Freddie Assessing Tax Transcripts / GSEs Also Downgraded / New Non-Agency MBS / HUD Increases Outreach on Appraisal Bias / Terra Property Trust Improves Offer August 3, 2023 Brandon Ivey Freddie Mac improves income verification options for self-employed borrowers.Read More
Freddie's Profits Increase Thanks to Home Price Gains August 2, 2023 Dennis Hollier Higher home prices allowed the enterprise to shift from a $395 million provision for credit losses in the first quarter to a $537 million benefit in the second.Read More
Profits Jump at Rithm; Capital Requirements a Tailwind August 2, 2023 Brandon Ivey The real estate investment trust expects to benefit from higher capital requirements for large banks.Read More
ABS Issuance Increases in Second Quarter August 2, 2023 John Bancroft ABS issuance increased by 17.4% in the second quarter, driven by auto deals.Read More