Short Takes: Mortgage Insurance Heaven / Strong NIW from MGIC and Radian / Genworth’s Sale is Still a Go / The Election and What It Means for the Financial Sector November 5, 2020 Paul Muolo With their COVID-related charges in the rearview mirror, the mortgage insurance sector came roaring back...Read More
MFA Reducing Non-QM Funding Costs with MBS Issuance November 5, 2020 Brandon Ivey Non-QM MBS issuance is helping MFA get out of a hole after market volatility in the spring forced the REIT to take on a loan with costly terms. Read More
Mortgage IPOs Headed for Turbulence? November 4, 2020 Paul Muolo In a statement, Caliber said it’s postponing the sale of common stock to the public but will “continue to evaluate the timing.”Read More
A 2021 GSE Loan Limit of Roughly $539,000 November 4, 2020 John Bancroft The limits would be higher for mortgages backed by 2-4 unit properties, as well as loans in designated high-cost markets.Read More
Mergers and Acquisitions? Sort of On Hold… November 4, 2020 Paul Muolo Chuck Klein, managing partner at Mortgage Banking Solutions, describes the current M&A atmosphere as “pretty quiet.” Still, he’s working on a handful of deals...Read More
Prime Non-Agency MBS in 3Q20 Fueled by UWM, Depositories November 3, 2020 Brandon Ivey Quicken Loans and loanDepot were the other nonbanks among the top five sources of collateral for these deals... Read More
Velocity Financial Resumes Originations; Income Increases in 3Q November 3, 2020 Brandon Ivey Velocity resumed origination activity in September, funding $63 million of investment-property loans in October. Read More
CoreLogic’s Major Shareholders Continue Proxy Battle November 3, 2020 Namrata Bhatia On Tuesday, CoreLogic accused Senator and Cannae of “pursuing a misinformation campaign aimed at” distracting shareholders and destroying value.Read More
Jumbo Rates Remain Stubbornly Above GSE Loans November 2, 2020 Brandon Ivey Research published by AEI shows that, between 2014 and 2019, the average interest rate on jumbos was 29 bps lower than on agency loans.Read More
LO Compensation Continued to Climb in the Third Quarter October 30, 2020 Yemeng Yang Commissions earned by LOs were up 50% in 3Q20 from a year ago, with the average LO facilitating 51% more volume...Read More