Changes are afoot at Acra Lending, which helped revive the nonprime sector early last decade. On the to-do list: a retail shift and a partnership with ServiceMac.
The analyst told IMFnews Wednesday, “There’s even negative repo rates in some cases. So far, it’s just overnight but even one-month is 5 basis points for agency MBS. There’s lots of cash looking for collateral.”
The company added: “We cannot predict the continued impact of an increased interest rate environment on our originations or gain-on-sale margins. Further, there is no assurance that these preliminary results will be indicative of our final results for the three months ended March 31, 2021 or in any future period.”
“More than 11% of borrowers in forbearance have now exceeded the 12-month mark,” said Mike Fratantoni, MBA’s SVP and chief economist. “We anticipate that servicers will be busy over the next month"...
With the GSE loan forbearance ratio continuing to shrink, and with many states starting to open up economically as COVID-19 vaccinations increase, lenders liken the AMV fee to a tax on housing. But is a change in the wind?