The only declines in IO production among the group were at non-depositories...

For weeks, there had been unconfirmed rumors that UWM might be contemplating an IPO but the missing ingredient was the SPAC. Based in Pontiac, MI, the privately held UWM, ranks third among all originators, according to figures compiled by Inside Mortgage Finance.

Demand for new non-QM MBS has returned to the levels seen before volatility in March prompted a pause in issuance.

The acquisition includes Cohen’s servicing and asset management clients and roughly 120 employees.

At June 30, subservicers handled 26.5% of all outstanding first liens in the U.S., a slight decline compared to March 31 of this year. 

The soft performance in the FHA/VA market was all due to declining production in the correspondent and wholesale-broker channels. Retail originations of government loans were up 38.4% for the survey group.

According to Inside Mortgage Finance, consumers owe $11.29 trillion on their first-liens, which means $782.1 billion worth of loans are potentially at risk.

Under the Fed’s plan, a bank’s mortgage lending performance would be evaluated in two ways: a retail test and a community development measurement...

Both MFA and Starwood are involved in the market for non-qualified mortgages.