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Short Takes: Trade Groups Urge SCOTUS to Hear Bankruptcy Case / Another MSR Securitization From PennyMac / Jumbo Reverse Mortgage Securitization

February 26, 2024
Brandon Ivey
The MBA cautioned that a ruling by the Fourth Circuit against PHH Mortgage departed from standard practices and could have wide-ranging harmful impacts for lenders.
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Top Servicers Handling Less of Jumbo Market

February 23, 2024
James Dohnert
JPMorgan Chase had the largest jumbo servicing portfolio, with $327.9 billion in volume at the end of December.
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Short Takes: Rithm Markets Non-QM MBS / Fannie Mae Hires COO / CrossCountry Launches CashPlus / Interest Rates Projected to Fall Below 6% This Year

February 23, 2024
James Dohnert
Fannie's new operations head comes from Morgan Stanley...
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Former Sprout Mortgage CEO Accused of Money Laundering

February 22, 2024
Paul Muolo
Michael Strauss is accused of funneling roughly $27 million out of the company before its demise in the summer of 2023.
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Fix-and-Flip Industry Expects an Increase in Originations in 2024

February 22, 2024
James Dohnert
Fix-and-Flip lender Kiavi says it has already seen a boost in its pipeline in the first six weeks of the year.
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Short Takes: Morgan Stanley Preps Non-QM MBS / New Reverse Chief for Fairway / NYCB Rebrands / New Mortgage Servicing Software

February 22, 2024
James Dohnert
NYCB takes on the Flagstar name across both brands.
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Redwood Posts Profit to Close Out 2023

February 21, 2024
James Dohnert
Redwood Trust reported a $21 million profit in the fourth quarter that was attributed to the company’s push to boost its liquidity for 2024.
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Short Takes: dv01, Fitch Team for New Non-Agency RMBS Benchmarks / Premier Lending Adopts FICO Score 10 T / LoanCare Launches App / Habitat for Humanity’s CDFI Gets a Name Change

February 21, 2024
James Dohnert
The new partnership's benchmarks focus on the non-QM and prime-jumbo markets.
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Congress Seeks to Increase Transparency in CDFI Fund

February 20, 2024
James Dohnert
New legislation would establish an ombudsman’s office to assist financial institutions navigating the CDFI application process.
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Maxex Offers New Outlet for Agency-Eligible Loans

February 16, 2024
James Dohnert
Lenders can sell agency-eligible mortgages for investment properties and second homes on Maxex's platform.
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