Refi Surge Boosts Ginnie Loan Liquidations in 1Q April 29, 2024 John Bancroft In case you missed it: The VA reported an astronomical increase in its interest rate reduction refinance program in early 2024...Read More
A Pay Cut for loanDepot Chief Martell April 29, 2024 Paul Muolo In 2022, when the lender/servicer posted a net loss of $610.4 million, Martell’s pay package totaled $16.4 million.Read More
Mortgages Helped Bring Down Failed PA Bank April 29, 2024 Brandon Ivey At one point, Republic First’s mortgage unit focused on offering jumbo mortgages at below-market interest rates.Read More
California Court Decision Could Prevent Non-QM Loan Mods April 29, 2024 James Dohnert The case, Moon vs. Milestone Financial, involves an exception in California Civil Code section 1916.1...Read More
Short Takes: An Exchange of One for 100? / About Those Rate Cuts… / Keep on Selling (MSRs) / A Good Time to Be Owned by an HB / A Job Change for Roque April 29, 2024 Paul Muolo One of the largest 1Q24 sequential gains in home lending was had by DHI Mortgage at +21.6%.Read More
Originations Steady in First Quarter, UWM on Top April 26, 2024 Brandon Ivey First-lien mortgage originations remained in a trough in the first quarter of 2024.Read More
Rising Costs Prompt Large Losses for Lenders in 2023 April 26, 2024 Brandon Ivey Only 36% of the lenders participating in the MBA’s report turned a profit in 2023, down from a 53% share of participants in 2022.Read More
Regulators Consider MBS, ABS Issues With Capital Proposal April 26, 2024 Brandon Ivey Federal Reserve Governor Michelle Bowman noted issues with how the proposal on capital requirements for large banks would impact the MBS and ABS markets.Read More
PIMCO Gets Into Second-Lien Securitization Market April 26, 2024 Brandon Ivey The $365.4 million deal is stocked with loans originated number a number of firms.Read More
Short Takes: Slight Increase in Pending Home Sales / Non-QM Performance Improves / Wells Expands Downpayment Grant Offering / Negative Outlook for Community Loan Servicing April 26, 2024 Brandon Ivey Elevated interest rates and limited housing inventory led to a tepid increase in pending home sales in March.Read More