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Short Takes: Homebuyers Wait and See / Locks Up Slightly / Little Credit Loosening / Profits Decline at Angel Oak REIT

May 7, 2024
Brandon Ivey
“Recent data showing stickier-than-expected inflation, rising mortgage rates and continued home price appreciation appear to have given consumers pause regarding the market’s direction,” said Doug Duncan, a senior vice president and chief economist at Fannie Mae.
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An Earnings Decline for Whole-Loan Investor MFA, But Coupon Averages 10%

May 6, 2024
James Dohnert
The REIT completed one securitization in the first quarter, this one collateralized by "transitional" loans...
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Rocket Rebounds in First Quarter; Sees Temporary Elevated GOS

May 3, 2024
Brandon Ivey
Rocket’s income was boosted in the first quarter by a jump in gains from the sale of loans and positive marks for mortgage servicing rights.
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Homebridge Close to Issuing HELOC Securitization

May 3, 2024
Paul Muolo
To date, Homebridge has mostly sold HELOCs originated by its broker network to investors, servicing-released.
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Short Takes: Ocwen Selling Some MSRs / Angel Oak Selling Off Older ECMs / Non-Agency Lender Takes Slight Loss / Attorneys Form Compliance Advisor

May 3, 2024
Brandon Ivey
Ocwen received an exceptionally strong bid for some of its MSRs and opted to sell.
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Jumbo Correspondent Market Shrinks in 2023

May 2, 2024
James Dohnert
Correspondent buyers of jumbos were divided fairly evenly between banks and nonbanks in 2023.
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Short Takes: GSEs Revise Guides / Purchase-Mortgage Lending Increases at Zillow / Fairway Touts LO Recruits / Annaly Fast With MBS

May 2, 2024
Brandon Ivey
The GSEs established a formal definition for mortgages to first-generation homebuyers.
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Redwood Increases Profits in First Quarter

May 1, 2024
James Dohnert
Redwood's earnings improved following a 53% increase in locked loans in the first quarter.
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Short Takes: Mortgage Demand Declines / NewRez Spin-Off a Work in Progress / New HEI Securitization / More Non-Agency MBS

May 1, 2024
Brandon Ivey
On an annual basis, mortgage applications were down 9.2%.
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Annaly Leads Expanded-Credit MBS Issuers in First Quarter

April 30, 2024
James Dohnert
Onslow Bay issued $2.52 billion of expanded-credit MBS in the first quarter, more than triple its issuance in the prior quarter.
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