What happened? Servicing advisors sharpened their pencils, studied the proposal and concluded it won’t be so bad after all.

Making car loans in Motor City: Rocket. Will other nonbanks do the same?

As originations go, so goes the warehouse sector. In 2Q21, commitment levels reached a new high but borrowing nonbanks are now trimming how much credit they will need for the rest of the year. (Includes data chart.)

It’s assumed that third-quarter originations will be down compared to 1Q and 2Q, but lenders remain sanguine about the short term. Also, some are finding solace in non-QM production.

A risk-based capital regime could be in the works for Fannie and Freddie, though some GSE watchers suggest the whole exercise could be in flux. Meanwhile, Wells Fargo has a new servicing chief, Ann Thorn from Caliber Home Loans.

At Caliber, Thorn served as chief loan administration officer and was responsible for all production and servicing tied to the nonbank’s four channels. During her career, she also has worked for megabanks Bank of America and JPMorgan Chase.

Despite earning a combined $10.9 billion in the second quarter, their common trades at less than $1.00 a piece…

MBA, like many trade groups, was forced to cancel the in-person portion of all shows dating from the spring of 2020...

When all is said and done, the buyer could wind up with $2.12 billion worth of government product.

Stock options have to be “in the money” to execute and many of the six nonbank lender/servicers are trading below their initial IPO price…