loanDepot Secures Borrowing Facility with Bank of America August 26, 2021 Paul Muolo The credit line, in the form of a master repurchase agreement, was signed on Aug. 20 and expires Sept. 27.Read More
The (Large) Servicer Delinquency Rate Falls to 4.56% August 26, 2021 Brandon Ivey Residential delinquencies declined across different buckets, led by borrowers who were more than 90 days past due...Read More
Short Takes: Leveraging Cash for Non-QM Lending / AO’s REIT Trading in a Tight Range / Eye on Rates / Robust MSRs / Alterra Gets a New President August 26, 2021 Paul Muolo and Brandon Ivey Non-QM lender Angel Oak is looking to crank up originations...Read More
The Final Tally: Nonbank Earnings Plummet as Margins Shrink in 2Q August 25, 2021 John Bancroft Nonbank earnings season is over. The bottom line: profits fell, but that was to be expected. The big question: Where do we go from here?Read More
Home Point Hit With Multiple Downgrades by Fitch. MSRs May Be Sold August 25, 2021 Paul Muolo The nonbank is contemplating selling some of its MSRs...Read More
As Summer Comes to An End, Applications Rise August 25, 2021 Paul Muolo The FHA share of total applications increased to 11.0% of the pie compared to 9.4% the week prior...Read More
FHFA Directs FHLBs to Plan for Agency Prepayments August 25, 2021 Brandon Ivey In a recent advisory bulletin, the regulator directed the FHLBs to limit the size of their exposure to CMBS issued by Fannie Mae and Freddie Mac, and to ensure proper diversification of their portfolios.Read More
Short Takes: Mortgage Discounts for Vaccine Recipients / Customers Sells Debt / Warehouse Lender Active in Crypto Market / What’s Riskier? / A Promotion at Deephaven August 25, 2021 Brandon Ivey and Paul Muolo Another warehouse lender active in the digital/crypto space is Silvergate Bank of California...Read More
Banks Change Course and Add Servicing-for-Others. However... August 24, 2021 John Bancroft Federally insured depositories reported $3.088 trillion of servicing-for-others at June 30, mostly representing loans residing in MBS trusts...Read More
Mr. Cooper Reveals Potential Stock Sales by Chairman/CEO August 24, 2021 Paul Muolo The 10b5-1 plan was designed to comply with SEC rules and the lender's insider trading policies and guidelines.Read More