In the event the deal falls through, Genworth Financial said it is considering a debt offering and a 19.9% initial public offering of its U.S. mortgage insurance business.
n the first quarter, the top three HECM originators (American Advisors Group, Reverse Mortgage Funding and Finance of America Mortgage) accounted for $1.04 billion, or 26.8%, of total production…
Reverse mortgage lenders pumped out $3.87 billion in the first three months of 2020. But originations took a big step back in April due to COVID-19. (Includes two data charts.)
Borrowings by members of the Federal Home Loan Bank System increased 25.8% in the first quarter driven by COVID-19-related volatility. On the other end, the FHLBanks reported a huge drop in combined earnings with the San Francisco FHLB incurring a first-quarter loss.
Arch Capital announced loss estimates related to COVID-19. Meanwhile, S&P revised downward its outlook on five of the nation’s six private mortgage insurers.