Short Takes: Update on Mr. Cooper’s Acquisition of Flagstar Assets / Home Sales Slow in CA / Interest Rates Up Again / FHLBanks Boost Affordable Housing Contributions October 18, 2024 Brandon Ivey Flagstar is on track to sell its mortgage servicing business and third-party origination business to Mr. Cooper Group during the fourth quarter.Read More
Fannie Economists Expect Homeowner ‘Lock-In’ to Persist October 17, 2024 Brandon Ivey Fannie economists project that purchase-mortgage originations will increase by 15.4% on an annual basis in 2025.Read More
Core Products Remain the Focus at GSEs in 3Q October 17, 2024 James Dohnert Noncore products are loans in which the non-agency market competes with the GSEs.Read More
UWM Offers Cash-Out Refi With High LTV Ratio, No Borrower-Paid MI October 17, 2024 Brandon Ivey It’s not clear what secondary market execution UWM will employ nor whether UWM will use lender-paid MI.Read More
VA Lenders, Borrowers Adjusting to Home Sale Commission Changes October 17, 2024 Monica Hogan VA issued a temporary variance to allow borrowers to pay buyer-broker charges so they could compete in the real estate market.Read More
Short Takes: Chimera to Acquire Asset Manager / $300 Million Investment in HEI Provider / Cerberus Packages US Bank Loans / Jumbo MBS From Chase / Rocket’s Latest CES Securitization / Better Launches Voice AI October 17, 2024 Brandon Ivey Chimera will pay $30 million upfront for Palisades Group and an earnout of up to $20 million.Read More
Ginnie Eyes Resources to Support Loan-Level Issuance October 16, 2024 Monica Hogan Ginnie Mae Acting President Sam Valverde said loan-level securitization could help liquidity.Read More
Fairway Settles Redlining Charges With DOJ, CFPB October 16, 2024 Shannon Clark Fairway Independent Mortgage denied the allegations and said it determined the settlement was “the most appropriate solution.”Read More
US Bank, Citi Boost Originations in Third Quarter October 16, 2024 Brandon Ivey US Bank posted the biggest increase in production among the large banks that have reported third-quarter earnings thus far.Read More
Short Takes: Applications Drop / Home Price Reading for September / SBA Out of Funding for Disaster Loans / NYCB to Rebrand as Flagstar / Acra Brings MBS / PrimeLending Looking to Grow October 16, 2024 Brandon Ivey Applications for refis declined by 26% last week.Read More
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