Short Takes: Frustration, Optimism on Trigger Leads / Planet Financial’s Debt Offering Upsized / Negative Outlook for Rocket / Rocket’s CES Securitization Slows December 11, 2024 Brandon Ivey Opposition from Rep. Patrick McHenry, R-NC, stalled legislation this year that would limit trigger leads.Read More
Nonprime Servicing Volume Increases in Third Quarter December 10, 2024 James Dohnert Select Portfolio Servicing remained the largest nonprime servicer at the end of the third quarter.Read More
Figure’s HELOC Securitization Activity Slows Somewhat December 10, 2024 Brandon Ivey The pending issuance is the second-smallest HELOC securitization from the firm this year.Read More
Short Takes: Refis Peter Out / Sentiment on Housing Improving / Angel Oak as Non-QM Aggregator / Foreclosures Slow December 10, 2024 Brandon Ivey Locks for refis plummeted in November following a rise in interest rates.Read More
PennyMac Financial Gets Aggressive on Jumbos, Plans MBS December 9, 2024 James Dohnert PennyMac's CEO: “Clearly, the banks have spoken. They’re not going to be as active in jumbo loans other than for their prime customers.”Read More
Short Takes: UWM Increases Size of Debt Offering / Neutral Outlook for Private MIs / Fitch Upgrades Freedom’s Servicer Rating / Buydowns Prevalent at Homebuilder / Blue Owl Capital Buying HEIs December 6, 2024 Brandon Ivey UWM's debt offering priced with an interest rate of 6.625%.Read More
Acra's New Parent: BlackRock (But for How Long?) December 4, 2024 Paul Muolo HPS, by no means a piker, has $116 billion of assets in its investment portfolio, with Acra’s holdings just a fraction.Read More
Short Takes: Planet Financial Group Plans Debt Offering / Little Demand for ARMs / Regulators Taking More Comments on Burdens / Rithm Shifts on Expanded-Credit MBS December 4, 2024 Brandon Ivey Fitch assigned a B rating to the planned $400 million senior unsecured debt issuance from Planet Financial Group.Read More
Conforming-Jumbo Business Grows in Third Quarter December 3, 2024 Brandon Ivey In the third quarter, conforming jumbos accounted for 5.4% of total agency business.Read More
Ellington to Securitize Closed-End Seconds Originated by PennyMac December 3, 2024 Brandon Ivey It's the first securitization of closed-end second liens from the affiliate of Ellington Management Group.Read More
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