Today, Inside Mortgage Finance publishes its exclusive 2Q20 ranking of the nation’s top 50 residential servicers. Among the top-10, the firm with the highest sequential gain? Quicken at 10.1%...
Thanks to a booming origination market, Fannie and Freddie posted strong earnings for the second quarter despite the economic carnage caused by the pandemic. Their capital positions also improved.
Fannie Chief Financial Officer Celeste Brown credited the recently adapted current expected credit loss (CECL) standard for the improved showing because the mortgage giant now looks at lifetime losses whereas before it would have just looked ahead two years.
According to the S-1 initial public offering documents filed with the SEC, Rocket’s total share count (public and private) is roughly 1.9858 billion shares. At $22 a unit (the upper end of the range) that works out to a cool $43.69 billion. In short: Wow.
Cowen analyst Jaret Seiberg: “Our expectation is that FHA borrowers will be the first to suffer if Congress fails to extend enhanced unemployment benefits"...
MBA believes that as a result of large buyouts of FHA and VA loans by banks from Ginnie Mae pools, these mortgages are now listed as portfolio loans...