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Saluda Grade Issues Rare Securitization of Closed-End Second Liens

December 21, 2020
Brandon Ivey

All of the loans in the new security were originated by Spring EQ, a Philadelphia-based lender co-founded by former New Penn CEO Jerry Schiano...


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Bye Bye Banks? Nondepository Share of GSE Sales Reaches an Astounding 63.9%

December 21, 2020

Among the top 50 nonbank sellers in 2020, six companies have increased their GSE sales more than tenfold: CrossCountry Mortgage, Better.com, Everett Financial, Draper and Kramer, NFM and PRMG.


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A Byproduct of COVID Damage: Fannie Will Take Control of 18 Senior Communities

December 21, 2020
Dennis Hollier

Like many companies in the sector, Capital Senior Living has been deeply impacted by the pandemic. The company posted a $215 million loss in the third quarter, $191 million of which it attributed to the transfer of these properties to Fannie.


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CFPB Settles with ‘Successor’ to Seterus Over Loss Mitigation Work

December 18, 2020
Paul Muolo

At one point, the IBM-controlled Seterus did contract servicing work for Fannie Mae...


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Connecticut Hard-Money Lender Readies Five-Year Paper

December 18, 2020
Paul Muolo

Through the first three quarters of 2019, Sachem has earned $6.6 million.


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Credit Unions Move a Step Closer to Investing in MSRs

December 18, 2020
Brandon Ivey

Credit unions are currently prohibited from purchasing MSRs as an investment. The proposal was opposed by the Democrat on the NCUA's board.


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A Mortgage M&A Boom in 2021 or Wishful Thinking?

December 17, 2020
Paul Muolo

This year, mortgage bankers were making too much money and pushed aside the thought of selling. Next year might be a different story...


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Trouble Ahead as 30-Day Delinquencies Rise on Agencies

December 17, 2020
John Bancroft

Although early-payment delinquency rates were up across the board, they remained significantly lower than six months ago.


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As the Year Winds Down, New Liquidity Standards for the GSEs

December 17, 2020
Dennis Hollier

In addition, the language includes a 365-day requirement, which essentially extends the short-term cash flow analysis.


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Subservicers Continue Their Strong Growth, but For How Long?

December 17, 2020
Paul Muolo
Subservicers continue to benefit from the keep-and-hold strategy being employed by small- to medium-sized shops. (Includes data chart.)
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