A dip in United Wholesale Mortgage stock last week, driven by a report from a hedge fund that shorted the nonbank, has raised awareness on the number of mortgage companies that are being shorted.
These are trying times for most home lenders, thanks to a weak origination market. What to do? Keep trimming staff or tough it out? Meanwhile, some experts believe executives should start cutting their own pay.
Regulators were aware that the three regional banks that failed last year had large amounts of uninsured deposits and high exposure to FHLBank advances.
The refinance market is showing signs of life — especially in the government-insured sector — and total agency MBS issuance in the first quarter was up from a year ago. (Includes two data tables.)
The Federal Housing Finance Agency has long supervised the GSEs’ management of third-party risk from nonbank mortgage companies. But now for the first time it is examining nonbanks directly.
In granting the injunction decree, the court noted that there’s a “substantial likelihood” the trade associations will ultimately succeed in their challenge against the CRA overhaul.
The MBA has called on federal agencies to ensure there is no disruption in the mortgage process stemming from the National Association of Realtors’ decision to settle a lawsuit related to agent commission practices.