Short Takes: Warrant Trouble for FoA / Exercisable at $11.50 / Rates and MSR Values / Redwood’s New RMBS Deal / A Promotion at Embrace July 8, 2024 Paul Muolo KBW noted that a majority of the mortgage market is “still well over 300 basis points out-of-the-money to refinance”…Read More
Broker Channel Gains Share in First Quarter July 5, 2024 Namrata Bhatia In the conventional-conforming sector, the broker share grew to 22.2% in the first quarter, up from a 21.6% share the previous quarter.Read More
New Ratings Business Rides Strong MBS/ABS Issuance July 2, 2024 John Bancroft Rated non-agency MBS issuance was up 95.4% from the fourth quarter to $26.99 billion in the first three months of 2024.Read More
Higher Approval Readings From Fannie/Freddie AU Systems July 1, 2024 John Bancroft However, denial rates in the GSE automated underwriting services were higher in 2023 for Black and Hispanic applicants...Read More
Short Takes: A Reverse Stock Split for a Reverse Lender / A Change of Strategy / The Mortgage SPAC Club / Housing Wealth / Bullish on MI Sector July 1, 2024 Paul Muolo To date, there have been just three mortgage IPO SPACs...Read More
Large Nonbank Lenders Gain Market Share in First Quarter June 28, 2024 Brandon Ivey PennyMac Financial was the only top-five lender to post a decline in originations in the first quarter.Read More
Banks Add to Holdings of Agency Pass-Through Securities June 27, 2024 John Bancroft Holdings of agency pass-through securities at banks rose 8.6% during the first quarter to $398.47 billion.Read More
Nonprime Servicing Portfolios Tick Up in First Quarter June 27, 2024 James Dohnert Chase was the only servicer among the top five to have its nonprime mortgage servicing portfolio shrink between the fourth and the first quarters.Read More
Lenders Reduce Mortgage Securitization Usage in 1Q June 26, 2024 Brandon Ivey The decline was driven by loans eligible for sale to the government-sponsored enterprises along with FHA and VA mortgages.Read More
Brokers Gain Nonconforming Market Share in 1Q June 25, 2024 Brandon Ivey A big boost in UWM's originations led to an increase in the broker share of the nonconforming market in the first quarter of 2024.Read More
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