According to figures compiled by Inside Nonconforming Markets, in the first half of the year Deephaven ranked eighth among all expanded-credit mortgage lenders with total production of $650 million.
The lifting of the sanctions comes amid a recent report by Bloomberg that New Day Chairman Emeritus Joe Murin might be a candidate to be the next permanent president of the government guarantor.
Some $57.16 billion of residential mortgages with a business or commercial purpose were originated during the review period, accounting for 3.7% of total originations.
One industry lobbyist, requesting anonymity, noted that when it comes to a possible recapitalization-and-release plan for Fannie and Freddie, “Everything flows from the capital rule. This shows us the [recap and release] process will not go quickly.”
PiperJaffray said management expects to sell assets “to increase cash to prepare for” a 2021 unsecured debt maturity event. The research firm rates the nonbank’s stock as “underweight.”
One Fannie/Freddie historian reminded us recently that there used to be a conforming loan limit for GSE multifamily loans. The big question: Why did it disappear?...
In terms of new HELOC commitments for the second quarter, Bank of America led the pack with $2.77 billion, followed by Wells Fargo ($1.91 billion) and Citizens Bank ($1.50 billion).
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