Analysts say homeowners are sitting on $6.2 trillion of home equity that could be converted to cash. But for many, refinancing is a better choice than a HELOC. (Includes three data charts.)
The banks are testing an incentive payment mortgage servicing compensation structure for certain non-agency deals. The move aims to align expenses and revenues for servicers faced with delinquent loans.
The non-QM market has been so hot this year that M&A activity is beginning to pick up a head of steam. Luxury Mortgage is the latest lender to pull the sale ripcord. There could be more.
The industry’s mood at the Mortgage Bankers Association’s annual conference last week seemed optimistic. But global uncertainty with China and trade, and Brexit could cut the good times short.
HPS Investment Partners, a firm chock full of Wall Street veterans, has agreed to buy non-QM lender Citadel Servicing Corp. After the sale closes, CSC founder and CEO Dan Perl will part ways with the firm.
FHFA Director Mark Calabria said any revised qualified mortgage rule introduced by the CFPB should be applicable to all lenders. Industry participants are unsure how the regulator will address the issue.
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