Mat Ishbia, CEO of UWM, noted: “We finished the first quarter with [loan production] of about $17.56 billion, more than double what we did in 1Q1 2018…”
Late Thursday, the Senate voted to approve Mark Calabria as the permanent director of the Federal Housing Finance Agency by a vote of 53 to 44 along party lines. A few senators did not cast ballots. But don’t look for this free-market economist to quickly make radical changes to how Fannie Mae and Freddie Mac operate. The first thing to watch is whether Calabria allows them to build more capital…Non-QM lender Citadel Servicing Corp., Irvine, CA, originated $475 million in ...
The sale of non-qualified mortgage lender and securitizer Deephaven Mortgage, Charlotte, NC, appears to be on the back burner for now, according to sources tracking the deal. “There was an auction, a bid, but it didn’t meet their price,” said one executive who claimed to have knowledge of the transaction. This source, requesting anonymity, maintains that at one point there were at least 20 different investors expressing an interest in Deephaven but it’s unclear how many had a copy of ...
Thanks to rising long-term interest rates, the negative yield curve that investors fretted about two weeks ago has been snuffed out, causing some market watchers to worry less about a coming recession. As Inside MBS & ABS went to press, the yield on the benchmark 10-year Treasury was at 2.51%, compared to 2.33% for the two-year and 2.44% for the three-month T-bill. As recently as March 25, the 10-year was at 2.36%, lower than short-term rates. Opinions differ, but some analysts ...