New York-based real estate investment trust unveiled plans to deploy as much as 10% of its capital — roughly $1.5 billion — in this sometimes volatile asset.
Jeffrey Naimon, a partner at Buckley, warned that CFPB enforcement lawyers are pressing hard on discovery issues — requiring investigational targets to provide more information faster.
Of the total in COVID deferral status at the end of March, 91.56% of loans were current. Another 3.76% were one or two payments past due, and 4.69% were three or four payments late.
“March 31 servicing marks were up significantly from where they were at Dec. 31,” said George Christo, executive vice president of The Prestwick Group.
This early tally — five of the seven typically rank among the top 20 lenders in the nation — suggests the mortgage originations train was holding steady on the tracks, though anecdotal evidence suggests the steam is dissipating.
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