Short Takes: Nonbanks Face the (GSE) Music on Liquidity Requirements / MBA is Not Happy / Hope? / Citi Goes English-Only / Freddie Official Hired by the CFPB December 21, 2020 MBA criticized the secretive nature of the rule change, arguing that by using lender letters, the maneuver short-circuited the normal comment period…Read More
A Warehouse Securitization from LoanDepot December 15, 2020 Paul Muolo The nonbank is also working on an IPO... Read More
Short Takes: Mortgage Déjà Vu / A Warehouse Securitization From loanDepot / Throwing Cold Water on Downsizing by Homeowners: Rates / A Promotion at Impac December 9, 2020 Paul Muolo According to Moody’s, prior to the securitization, loanDepot had sponsored five warehouse deals totaling $1.8 billion...Read More
The Warehouse Gravy Train Continues Unabated in 3Q20 November 17, 2020 Paul Muolo When nonbanks thrive that can only mean good things for warehouse providers...Read More
The Clampdown: FHFA Moves to Tighten Approval Process for New GSE Products October 19, 2020 Dennis Hollier The proposed rule defines a new activity as any new business line, business practice, or service that the GSEs offer to the market. Read More
Western Alliance Bank Acquires Non-QM Aggregator Galton Funding October 9, 2020 Brandon Ivey The acquisition will help expand Western Alliance Bank's warehouse lending efforts.Read More
With Business Booming, Warehouse Financiers Ask for a Regulatory Break September 21, 2020 Paul Muolo Due to a 2014 change in regulatory accounting policy, banks were required to assign a 100% risk weighting to warehouse loans…Read More
Warehouse Commitments Keep Rising. The Best Conditions Ever? August 28, 2020 Paul Muolo With nonbanks continuing to steal market share away from depositories, warehouse commitments have been going through the roof. Of course, ultra low mortgage rates help... Read More
Short Takes: Another Down Week for Applications / Don’t Worry / Stellar Profits Remain / Blame the Document Custodian / Homes and Hurricane Damage, An Update August 26, 2020 Paul Muolo and Maria Volkova New residential applications fell once again. Time to worry? Hardly...Read More
Short Takes: New Rez Settles Non-QM Case / Still Humming Along: Priority / Waiting on Warehouse / Behind the Scenes: PIMCO / CoreVest Loses a VP August 12, 2020 Paul Muolo Pulling the strings behind the non-QM curtain: A giant named PIMCO...Read More