Mortgage Demand Shifting Amid Elevated Interest Rates August 16, 2023 Brandon Ivey The strong economy looks like a mixed blessing for mortgage lenders.Read More
Short Takes: CFPB Plots Rule on Data Brokers / An AI Guarantee / Compliance Investment by Accounting Firm August 16, 2023 Brandon Ivey The CFPB plans to issue a proposed rule expanding requirements for data brokers in 2024.Read More
UBS Settles with DOJ on Pre-2008 Claims August 15, 2023 Brandon Ivey The DOJ alleged that UBS misled investors in 40 non-agency MBS, violating the Financial Institutions Reform, Recovery and Enforcement Act.Read More
Short Takes: New-Home Loan Applications Level Off / New REIT for Roc / Another Pivot for Altisource Asset Management? August 15, 2023 Brandon Ivey Altisource Asset Management shifted in recent years from asset management to aggregating non-agency mortgages. Another shift could be in the works...Read More
After a Multi-Year Low, Ginnie Loan Removals Spike in 2Q23 August 14, 2023 Brandon Ivey In case you didn't know, thanks to higher interest rates, the Ginnie "early buyout" game is over...Read More
Borrower Payoffs Drive Up Ginnie Loan Removals August 10, 2023 Brandon Ivey Mortgage payoffs accounted for nearly 90% of loan repurchases from Ginnie MBS in the second quarter. Early buyout activity remains constrained due to elevated interest rates. (Includes data chart.)Read More
Fitch’s Downgrade of U.S. Reverberates to MBS, ABS August 10, 2023 Brandon Ivey Downgrades of GSE CRT transactions, Freddie Mac K-deals and student loan ABS followed a downgrade of the credit rating for the U.S. to AA+.Read More
Grapevine: Issuers Exempt from Cybersecurity Rule; New Deals August 10, 2023 Brandon Ivey SEC exempts MBS and ABS issuers from cybersecurity disclosure requirements; plethora of novel ABS issuance; student loan ABS defaults hit record high.Read More
United Wholesale’s Earnings Propped Up by MSR Sales August 10, 2023 Brandon Ivey Year-to-date, UWM has booked nearly $1.4 billion in proceeds from sales of MSRs and excess MSRs.Read More
Blend Cuts More Staff in Effort to Turn Profit August 10, 2023 Brandon Ivey The layoffs will result in a $33 million reduction in operating expenses on an annual basis.Read More