Another Earnings Bloodbath for Finance of America November 9, 2022 Paul Muolo FoA is down to $169 million of cash and cash equivalents...Read More
Angel Oak REIT Posts a $83M Loss for 3Q, Cites Negative Asset Marks November 8, 2022 Paul Muolo AOM purchased $62.4 million of non-QMs with a weighted average coupon of 7.1% in the third quarter...Read More
Mortgage Lenders Chopped 8,200 Jobs in September; Non-QM Shop Athas Closes November 8, 2022 Paul Muolo Compared to a year ago, firms characterized by the BLS as “real estate credit” have shed 35,700 workers.Read More
First Republic: Rough Times Ahead for Lending Margins November 2, 2022 Brandon Ivey In a nutshell, the problem is margin compression, not credit...Read More
Increasingly, Fannie and Freddie are Sticking to Core Activities November 1, 2022 Brandon Ivey Noncore business at the GSEs is declining due to both diminished demand and a change in pricing policies made by the FHFA...Read More
Expanded-Credit MBS Issuance Off by Almost 20% October 31, 2022 Brandon Ivey Angel Oak ranked second with EC MBS issuance of $579.6 million...Read More
Redwood Limiting Acquisitions of Jumbo Mortgages October 28, 2022 Brandon Ivey Redwood's jumbo business operated at near a break-even level in the third quarter, though there wasn't much business to speak of.Read More
Coming Soon: Layoffs and Branch Closings at Finance of America October 21, 2022 Paul Muolo FoA recently sent a “branch offboarding information” form to all its branch managers, setting the table for large-scale cutbacks.Read More
ABS East Coverage: Non-QM Players Expect ‘Pain’ to Last a While October 19, 2022 Brandon Ivey Angel Oak believes non-QM originations and demand from MBS investors will be suppressed through mid-2023...Read More
Despite Closure, Sprout Mortgage Still Active in the Secondary Market October 19, 2022 Paul Muolo Meanwhile, Sprout was recently sued by a subsidiary of title insurance giant First American Financial Corporation...Read More
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