Origination of commercial mortgages could reach $515 billion this year, a slight improvement over 2015, but more lenders – life insurance companies and banks, in particular – are keeping the loans on their books, which doesn’t bode well for CMBS issuance. It’s the same conundrum facing the jumbo residential market: plenty of lending, but not so much in the way of securitization. As Inside MBS & ABS reported recently, issuance of CMBS increased...
ResCap Liquidating Trust last week filed two new lawsuits against lenders as it continued its efforts to recover losses due to bad loans purchased from correspondents that later forced the company into Chapter 11 bankruptcy. No other details were provided by defendant attorneys with American Mortgage Law Group, which warned that the Dec. 2 filings in Minnesota federal district court may trigger a second wave of litigation by the trust. AMLG said it has been helping a number of lenders with pre-litigation demands from the trust and has seen increased activity on that front. On Nov. 16, a federal judge dismissed...
Late this week, Nationstar’s common was selling for $19.17 a share, just pennies below its yearly high. PennyMac Financial topped its high for the year.
In case you’re not keeping tally, there are roughly 387 calendar days remaining before the “capital buffer” at Fannie and Freddie falls to zero on Jan. 1, 2018.
Then there’s the case of Bill Dallas, the industry veteran who runs Skyline Home Loans in Calabasas, CA. “Winter is coming,” he said in a brief email exchange with Inside Mortgage Finance.
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