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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.
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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.
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‘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.
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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.”
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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.
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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.
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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.
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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.
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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.
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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.
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