CFPB Affirms Mortgage Rules Apply to Contracts for Deeds August 13, 2024 Shannon Clark The CFPB said it is stepping in to stop harmful practices used in contract for deed financing that set up homebuyers to fail.Read More
Short Takes: New Mortgage Reinsurer / Rocket Consistent With CES Securitizations / DSCR Loans in Non-Agency MBS / Growing Through Selling Servicing August 13, 2024 Brandon Ivey Skyward Specialty Insurance Group launched a mortgage reinsurance business.Read More
Private MI Companies Gain Share in Second Quarter August 9, 2024 John Bancroft Radian Guaranty ranked first among private MIs in new insurance written, posting a 20.5% increase to $13.89 billion in the second quarter.Read More
Guild Reduces Losses From Originations in 2Q August 9, 2024 Brandon Ivey The nonbank’s origination unit took a $3.1 million loss in the second quarter after a $24.2 million loss the previous quarter.Read More
Mortgage Interest Rates Fall Below 6.50% August 9, 2024 Brandon Ivey The average interest rate for a mortgage stood at 6.73% just before the release of the jobs report last week.Read More
Short Takes: Steady Losses at Blend / FHA Extends Disaster Program in Maui / Income Drops at Cherry Hill / Correction on Ready Capital’s MSR Sale August 9, 2024 Brandon Ivey Blend Labs took a $19.4 million loss in the second quarter.Read More
Better Increases Production, Takes Another Loss in 2Q August 8, 2024 Brandon Ivey The parent of Better Mortgage took a $42.2 million loss in the second quarter compared with a $51.5 million loss the previous quarter.Read More
CFPB Warns of Predatory Lending With Solar Loans August 8, 2024 Shannon Clark “We have identified a number of predatory practices, including high-pressure door-to-door sales where families are baited into expensive loans that wipe away the savings from a solar installation,” said CFPB Director Rohit Chopra.Read More
Short Takes: Ready Capital Sells MSRs / Zillow Emphasizes its Mortgage Lender / Goldman Brings Prime Non-Agency MBS / MCT Receives Patent August 8, 2024 Brandon Ivey Ready Capital sold the MSRs as part of an effort to exit investments in the residential market to put a greater emphasis on commercial loans.Read More
Liquidations From Ginnie MBS Increase in 2Q August 7, 2024 Brandon Ivey Halfway through 2024, Lakeview/Bayview Loan Servicing was the leader in removals from Ginnie MBS, with $11.33 billion.Read More