Fannie Chief Financial Officer Celeste Brown credited the recently adapted current expected credit loss (CECL) standard for the improved showing because the mortgage giant now looks at lifetime losses whereas before it would have just looked ahead two years.
According to the S-1 initial public offering documents filed with the SEC, Rocket’s total share count (public and private) is roughly 1.9858 billion shares. At $22 a unit (the upper end of the range) that works out to a cool $43.69 billion. In short: Wow.
Cowen analyst Jaret Seiberg: “Our expectation is that FHA borrowers will be the first to suffer if Congress fails to extend enhanced unemployment benefits"...
While most non-agency MBS servicers specialize in handling either prime mortgages or expanded-credit loans, Shellpoint services large volumes of both loan types.
MBA believes that as a result of large buyouts of FHA and VA loans by banks from Ginnie Mae pools, these mortgages are now listed as portfolio loans...
The vehicle-finance sector hit a pothole as new issuance skidded 26.0% from the first quarter to $21.61 billion. But that represented 62.9% of new ABS production for the second quarter.
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